Euro at Risk of More Declines Vs USD and GBP

Key Highlights The Euro declined heavily this week against most major currencies, including US Dollar and British Pound. A crucial bearish trend line with current resistance near 0.8790 protected gains on the daily chart of EUR/GBP. The Euro Area CPI in April 2018 increased 0.3% (MoM), similar to the forecast. The yearly change in the Euro Zone CPI was 1.2% in Apr...
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Can EUR/JPY Move Above 131.50 Resistance?

Key Highlights The Euro found support near 129.20/30 and recovered higher against the Japanese Yen. There is a major bearish trend line in place with resistance near 131.30 on the 4-hour chart of EUR/JPY. The Euro Area Gross Domestic Product in Q1 2018 (Prelim) came in at 0.4%, similar to the forecast. Today, the Euro Zone CPI for April 2018 will be released, whic...
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GBP/USD Basing Above 1.3460 For Next Move

Key Highlights The British Pound declined this past week before finding buyers near 1.3460 against the US Dollar. There was a break above a crucial bearish trend line with resistance at 1.3520 on the 4-hour chart of GBP/USD. The pair may continue to consolidate above 1.3460 before the next move. Today, the UK Claimant Count Change for April 2018 will be released, ...
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Can EUR/USD Recover Further Above 1.2000?

Key Highlights The Euro declined towards 1.1825 against the US Dollar where buyers appeared. The EUR/USD pair recovered and moved above a bearish trend line with resistance at 1.1900 on the 4-hour chart. The pair correct further if buyers succeed in settling the pair above 1.2000. The Michigan Consumer Sentiment Index released recently for May 2018 (Prelim) posted...
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USD/JPY Testing Key Bullish Trend Support

Key Highlights The US Dollar corrected lower after trading as high as 110.01 against the Japanese Yen. There is a crucial bullish trend line formed with support 109.15 on the 4-hour chart of USD/JPY. The US Consumer Price Index in April 2018 posted a rise of 0.2%, less than the +0.3% forecast (MoM). Today, Canada’s Net Employment Change for April 2018 will be re...
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GBP/JPY Could Gain Further, BOE’s Rate Decision Next

Key Highlights The British Pound found support near 147.00 and recovered sharply against the Japanese Yen. There was a break above a key bearish trend line with resistance at 148.20 on the 4-hour chart of GBP/JPY. Japan’s Current Account posted a trade surplus of ¥3,122.3B in March 2018, compared with the ¥3,009.2B forecast. Today, the BOE Interest Rate Decisi...
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NZD/USD Accelerating Declines Below 0.7000

Key Highlights The New Zealand Dollar declined sharply and moved below the 0.7000 support against the US Dollar. There is a major bearish trend line forming with resistance at 0.7020 on the 4-hour chart of NZD/USD. The pair may decline further towards the 0.6900 support in the near term. Today, the US Producer Price Index for April 2018 will be released, which is ...
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GBP/USD Could Recover from Oversold Conditions

Key Highlights The British Pound declined sharply during the past few days and broke the 1.3700 support against the US Dollar. There is a key bearish trend line forming with resistance at 1.3650 on the 4-hour chart of GBP/USD. The Euro Zone Sentix investor Confidence Index for May 2018 declined from 19.6 to 19.2. Today, UK’s Halifax House Price Index for April 2...
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EUR/USD Settled Below Key Support Levels

Key Highlights The Euro declined heavily this past week and broke the 1.2000 support against the US Dollar. There is a major bearish trend line formed with resistance at 1.2010 on the 4-hour chart of EUR/USD. The US nonfarm payrolls in April 2018 came in at 164K, less than the forecast of 192K. The US unemployment rate dipped from 4.1% to 3.9%. EURUSD Technical...
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USD/JPY Downsides Remain Supported Ahead of NFP

Key Highlights The US Dollar traded as high as 110.02 before starting a downside correction against the Japanese Yen. There are two bullish trend lines forming with support at 109.00 and 108.50 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending April 28, 2018 increased from 209K to 211K. Today, the US NFP figure for April 2018 will ...
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