EUR/USD Extending Gains above 1.2200

Key Highlights The Euro made a nice upside move recently and it broke the 1.2200 resistance against the US Dollar. There was a break above a key bearish trend line with resistance at 1.2040 on the 4-hours chart of EUR/USD. The pair is now in a bullish zone and is eyeing more gains above 1.2200. China’s new loans figure for Dec 2017 released by People's Bank of C...
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USD/JPY Poised to Extend Declines Below 111.00

Key Highlights The US Dollar failed to stay above the 112.00 support area and declined against the Japanese Yen. USD/JPY is now well below the 112.00 support, which is a strong bearish sign. A major support sits at 111.00 where buyers may attempt to prevent further losses. Other major pairs such as EUR/USD and GBP/USD recently gained bullish traction. USDJPY Te...
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USD/CAD Forming Short-term Bottom at 1.2350

Key Highlights The US Dollar after a major decline found a strong support at 1.2350 against the Canadian Dollar. There was a break above a crucial bearish trend line at 1.2420 on the 4-hours chart of USD/CAD. It seems like the pair has formed a short-term bottom and it could move above 1.2560. The US Initial Jobless Claims is scheduled today with forecast as 245K ...
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Can GBP/USD Hold 1.3480 Ahead of UK’s Production Report?

Key Highlights The British Pound formed a short-term top at 1.3612 and declined against the US Dollar. There is a contracting triangle forming with current support at 1.3500 on the 4-hours chart of GBP/USD. The pair must hold the 1.3480-1.3500 support in order to initiate a fresh upside move. Today, the UK’s Industrial Production for Nov 2017 will be released, w...
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EUR/JPY Carving Top or Correcting Lower?

Key Highlights The Euro after a solid upside move formed a high at 136.63 against the Japanese Yen. The EUR/JPY pair moved down sharply and broke a crucial bullish trend line with support at 135.25 on the 4-hours chart. The pair must stay above 134.40 to avoid any further declines in the near term. Today’s German Trade Balance report for Nov 2017 could have a po...
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EUR/USD Downsides Remain Supported Above 1.1950

Key Highlights The Euro traded as high as 1.2088 recently against the US Dollar before starting a correction. There is a major bullish trend line forming with support at 1.2000 on the 4-hours chart of EUR/USD. Downsides in the Euro remain supported around the 1.2000 and 1.1950 support levels. The US NFP in December 2017 posted 148K, less than the market forecast o...
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USD/JPY Remains In Broad Range of 112.00-114.00

Key Highlights The US Dollar succeeded in holding the 112.00 support against the Japanese Yen, and moved higher. The USD/JPY pair is approaching a major bearish trend line with current resistance at 113.10 on the 4-hours chart. The 113.10, 113.50 and 113.80 levels are major upside barriers for buyers in the near term. The US ADP Employment Change in Dec 2017 regis...
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EUR/USD Starts 2018 with Lot of Strength

Key Highlights The Euro surged higher recently and succeeded in breaking the 1.2000 handle against the US Dollar. There is a crucial bullish trend line forming with support at 1.1980 on the 4-hours chart of EUR/USD. The recent high at 1.2080 is a short-term resistance followed by 1.2100. The US ISM Manufacturing Index increased in Dec 2017 to 59.7 from the previou...
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Can USD/JPY Make it This Time?

Key Highlights The US Dollar is once again approaching towards a major resistance near 113.75-114.00. On the downside, there is a key bullish trend line forming with support at 113.20 on the 4-hours chart of USD/JPY. A break and 4-hour close above 114.00 could open the doors for more upsides. The third estimate of the US GDP came in at +3.2%, less than the forecas...
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GBP/USD Uptrend Intact Ahead of US GDP

Key Highlights The British Pound is holding the 1.3350 support area nicely against the US Dollar. A major contracting triangle is forming with support at 1.3340 and resistance at 1.3460 on the 4-hours chart of GBP/USD. A successful break above 1.3460 will most likely lift the market sentiment in favor of more gains. The UK's GfK Group Consumer Confidence in Dec 20...
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