USD/JPY Could Decline Further Towards 112.00

Key Highlights The US Dollar started a downside move after trading towards the 114.20 level against the Japanese Yen. There was a break below a major bullish trend line with support at 113.90 on the 4-hours chart of USD/JPY. The Euro Zone Consumer Confidence in Nov 2018 (Preliminary) declined from -2.7 to -3.9. Today, the US Manufacturing PMI for Nov 2018 (Prelimi...
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AUD/USD Holding Key Support and 100 SMA

Key Highlights The Aussie Dollar declined sharply from 0.7337 and traded below 0.7260 against the US Dollar. There is a major bullish trend line in place with support at 0.7220 on the 4-hours chart of AUD/USD. The US Initial Jobless Claims figure for the week ending Nov 17, 2018 increased to 224K. Today, the Euro Zone Consumer Confidence for Nov 2018 (Prelim) will...
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EUR/JPY Approaching Next Crucial Break

Key Highlights The Euro found support near 127.50 and recovered recently against the Japanese Yen. There is a major breakout pattern formed with resistance at 128.85 on the 4-hours chart of EUR/JPY. The US Housing Starts Change came in at +1.5% in Oct 2018, better than the +0.5% forecast. Today, the US Durable Goods Orders for Oct 2018 will be released, which is f...
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GBP/USD Likely To Struggle Near 1.2920

Key Highlights The British Pound found support near the 1.2770 level and recovered against the US Dollar. There is a major bearish trend line in place with resistance at 1.2920 on the 4-hours chart of GBP/USD. The NAHB Housing Market Index in Nov 2018 declined from 68 to 60. Today in the UK, the CBI Industrial Trends Survey Orders report for Nov 2018 will be relea...
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EUR/USD Facing Major Hurdle Near 1.1460

Key Highlights The Euro recovered recently and traded above the 1.1350 resistance against the US Dollar. There is a key connecting bearish trend line in place with resistance at 1.1460 on the 4-hours chart of EUR/USD. The US Industrial Production in Oct 2018 increased 0.1%, less than the +0.2% forecast. Today in the US, the NAHB Housing Market Index for Nov 2018 w...
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USD/JPY Approaching Crucial Support Near 113.00

Key Highlights The US Dollar formed a short term top at 114.20 and declined recently against the Japanese Yen. There was a break below a major ascending channel with support at 113.65 on the 4-hours chart of USD/JPY. The US Retail Sales in Oct 2018 increased 0.8%, more than the +0.5% forecast. Today, the US Industrial Production for Oct 2018 will be released, whic...
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Crude Oil Price Tumbles Below $60.00

Key Highlights Crude oil price extended losses and traded below the key $60.00 support against the US dollar. There was a break below a crucial declining channel with support at $58.00 on the 4-hours chart of XTI/USD. The US CPI in Oct 2018 increased 0.3% (MoM), similar to the forecast. Today, the US Retail Sales for Oct 2018 will be released, which is forecasted ...
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Gold Price Slides Below Key Support, US CPI Next

Key Highlights Gold price failed to surpass the $1,240 resistance and declined against the US Dollar. There was a break below a major bullish trend line with support at $1,224 on the 4-hours chart of XAU/USD. The UK ILO Unemployment Rate increased from the last reading of 4.0% to 4.1%. Today, the US Consumer Price Index for Oct 2018 will be released, which is fore...
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GBP/USD Settles Below 1.3000 Ahead of Jobs Report

Key Highlights The British Pound declined recently below the 1.3000 and 1.2940 supports against the US Dollar. There is a crucial bearish trend line in place with resistance at 1.3160 on the 4-hours chart of GBP/USD. The Italian Industrial Output in Sep 2018 declined 0.2%, less than the -0.7% forecast. Today, the UK Claimant Count figure for Oct 2018 will be relea...
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EUR/USD Remains At Risk of More Losses

Key Highlights The Euro recovered recently, but it failed to move above 1.1500 against the US Dollar. There was a break below a key bullish trend line with support at 1.1425 on the 4-hours chart of EUR/USD. The US Producer Price Index increased 0.6% in Oct 2018 (MoM), more than the +0.2% forecast. Today, the France ILO Unemployment Rate for Q3 2018 will be release...
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