EUR/JPY Remains In Downtrend Below 129.00

Key Highlights The Euro declined recently and tested the 126.50 area against the Japanese Yen. There are two important bearish trend lines in place with resistance at 128.70 on the 4-hours chart of EUR/JPY. The Euro Zone GDP in Q3 2018 (Preliminary) increased 0.2% (QoQ), less than the +0.4% forecast. Today, the Euro Zone CPI for Oct 2018 (Preliminary) will be rele...
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GBP/USD Facing Uphill Task Near 1.2900

Key Highlights The British Pound declined sharply and traded below 1.2800 recently against the US Dollar. There is a crucial bearish trend line in place with resistance at 1.2880 on the 4-hours chart of GBP/USD. UK’s Mortgage Approvals in Sep 2018 were 65.269K, more than the 65.000K forecast. Today, the Euro Zone Gross Domestic Product for Q3 2018 (Preliminary) ...
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EUR/USD Turned Bearish Below 1.1500

Key Highlights The Euro declined further and traded towards 1.1340 against the US Dollar. There is a major bearish trend line formed with resistance at 1.1460 on the 4-hours chart of EUR/USD. The US Gross Domestic Product for Q3 2018 (Preliminary) increased 3.5%, better than the 3.3% forecast. Today, the US Personal Income for Sep 2018 (MoM) will be released, whic...
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USD/JPY Holding Key Uptrend Support Ahead of US GDP

Key Highlights The US Dollar started a downside correction after trading as high as 114.53 against the Japanese Yen. There is a crucial bullish trend line formed with support at 111.90 on the daily chart of USD/JPY. The US Durable Goods Orders in Sep 2018 increased 0.8%, better than the -0.9% forecast. Today, the US Gross Domestic Product for Q3 2018 (Preliminary)...
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AUD/USD Remains At Risk of More Declines

Key Highlights The Aussie Dollar started a downside move after it failed near 0.7150 against the US Dollar. There is a major bearish trend line in place with resistance at 0.7115 on the 4-hours chart of AUD/USD. The US Manufacturing PMI for Oct 2018 (Preliminary) increased from 55.6 to 55.9. Today, the Durable Goods Orders for Sep 2018 will be released, which is f...
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Can EUR/GBP Continue To Recover?

Key Highlights The Euro started an upside correction from the 0.8720 support against the British Pound. There is a major ascending channel formed with support at 0.8800 on the 4-hours chart of EUR/GBP. The UK CBI Industrial Trends Orders Survey declined from -1 to -6 in Oct 2018 (MoM). Today, the Euro Zone Manufacturing PMI for Oct 2018 (Preliminary) will be relea...
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GBP/USD Targets Fresh Monthly Lows Below 1.2920

Key Highlights The British Pound failed to break the 1.3250 resistance and declined sharply against the US Dollar. There is a connecting bearish trend line formed with resistance at 1.3050 on the 4-hours chart of GBP/USD. The Chicago Fed National Activity Index (CFNAI) declined from the last revised reading of 0.27 to 0.17 in Sep 2018. Today, the UK CBI Industrial...
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EUR/USD Remains Vulnerable Below 1.1620

Key Highlights The Euro declined recently and tested the 1.1430 support area against the US Dollar. There is a major bearish trend line in place with resistance at 1.1570 on the 4-hours chart of EUR/USD. The US Existing Home Sales in Sep 2018 declined 3.4% (MoM), more than the forecast of -0.7%. Today, the Chicago Fed National Activity Index for August 2018 will b...
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USD/JPY Recovery Faces Significant Resistance Near 113.00

Key Highlights The US Dollar found support near 111.65 and recovered nicely against the Japanese Yen. There was a break above a crucial bearish trend line with resistance at 112.20 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims figure for the week ending Oct 13, 2018 declined from the last revised reading of 215K to 210K. Today, the US Existing Hom...
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GBP/JPY Could Extend Slides Below 147.00

Key Highlights The British Pound failed to break the 148.40 resistance and declined against the Japanese Yen. There is a major bearish trend line in place with resistance at 148.30 on the 4-hours chart of GBP/JPY. Japan’s Merchandise Trade Balance in Sep 2018 posted a surplus of ¥139.6B, better than the ¥-50.0B forecast. Today, the UK Retail Sales figure for S...
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