USD/JPY Downsides Remain Supported Ahead of US NFP

Key Highlights The US Dollar traded above the 111.00 level recently before correcting lower against the Japanese Yen. There is a key connecting bullish trend line in place with support at 109.90 on the 4-hours chart of USD/JPY. The US ADP Employment Change in June 2018 posted 177K, less than the forecast of 190K. Today in the US, the Nonfarm Payrolls figure for Ju...
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EUR/GBP Holding Crucial Support Near 0.8800

Key Highlights The Euro corrected lower after trading as high as 0.8890 against the British Pound. There is a major bullish trend line in place with support at 0.8800 on the 4-hours chart of EUR/GBP. The Euro Zone Services PMI in June 2018 increased from the last reading of 55.0 to 55.2. Today in the US, the Services PMI for June 2018 will be released, which is fo...
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Can Gold Price Recover Above $1,260 In Near Term?

Key Highlights Gold price declined recently and tested the $1,240 support area against the US Dollar. There was a break above a declining channel with resistance at $1,248 on the 4-hours chart of XAU/USD. The US Factory orders in May 2018 increased 0.4%, more than the forecast of 0%. Today in the Euro Zone, the Services PMI for June 2018 will be released, which is...
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GBP/USD Upsides Remained Capped by 1.3200

Key Highlights The British Pound recovery faced a strong selling interest near 1.3200-10 against the US Dollar. There is a key bearish trend line formed with resistance at 1.3180 on the 4-hours chart of GBP/USD. The UK Manufacturing PMI in June 2018 increased from the last reading of 54.3 to 54.4. Today in the US, the Factory Orders report for May 2018 will be rel...
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EUR/USD Trading In Bullish Zone Above 1.1600

Key Highlights The Euro formed a solid support above 1.1510 and bounced back against the US Dollar. There was a break above a connecting bearish trend line with resistance at 1.1650 on the 4-hours chart of EUR/USD. The Euro Zone CPI in June 2018 increased 2% (YoY), more than the last reading of +1.9%. Today in the US, the ISM Manufacturing PMI for June 2018 will b...
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Can USD/JPY Break The 110.60 Resistance?

Key Highlights The US Dollar is trading in a positive zone above the 109.60 support against the Japanese Yen. There is a major contracting triangle formed with resistance near 110.50-60 on the 4-hours chart of USD/JPY. The US GDP in Q1 2018 grew 2%, less than the forecast of 2.2%. Tokyo’s CPI in June increased 0.6% (YoY), compared with the forecast of 0.5%. U...
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USD/CHF Remains Supported Ahead of USD GDP

Key Highlights The US Dollar is trading in a bullish zone above the 0.9880 support against the Swiss Franc. There is a crucial bullish trend line formed with support at 0.9880 on the 4-hours chart of USD/CHF. The US durable goods orders decreased 0.6% in May 2018 (MoM), less than the forecast of -1.0%. Today in the US, the GDP figure for Q1 2018 will be released, ...
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Can Crude Oil Price Trade Above $72?

Key Highlights Crude oil price stated a fresh upside wave from the $63.50 support area against the US dollar. There was a break above a key bearish trend line with resistance at $66.00 on the 4-hours chart of XTI/USD. The US S&P/Case-Shiller Home Price Indices in April 2018 increased 6.6%, less than the forecast of 6.8%. Today in the US, the Pending Home Sales...
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GBP/USD Turned Positive Above 1.3200

Key Highlights The British Pound found strong bids near 1.3100 and recovered above 1.3200 against the US Dollar. There was a break above a bearish trend line with resistance at 1.3235 on the 4-hours chart of GBP/USD. The Chicago Fed National Activity Index (CFNAI) declined in May 2018 from the last revised reading of 0.42 to -0.15. Today in the UK, CBI Industrial ...
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EUR/USD is Likely Forming Double Bottom at 1.1510

Key Highlights The Euro declined and retested the last swing low of 1.1505-10 against the US Dollar. There is a connecting bearish trend line in place with resistance at 1.1700 on the 4-hours chart of EUR/USD. The US Services Purchasing Managers Index (PMI) (Prelim) in June 2018 declined from 56.8 to 56.5. Today in the US, the New Home Sales Change for May 2018 wi...
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