USD/JPY Nosedives, Breaks Key Support Ahead of US GDP

Key Highlights The US Dollar was under a lot of pressure recently and it declined below the 110.00 support against the Japanese Yen. There is a major bearish trend line forming with current resistance at 110.60 on the 4-hours chart of USD/JPY. On the downside, the next supports are at 108.50 and 108.00. The US Initial Jobless Claims for the week ending Jan 20th 20...
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NZD/USD Bullish above 0.7320, EUR/USD and GBP/USD Surges Higher

Key Highlights The New Zealand Dollar made good ground recently and traded above 0.7400 against the US Dollar. There is a crucial bullish trend line forming with support at 0.7330 on the 4-hours chart of NZD/USD. The current price action is positive despite the recent drop from the 0.7437 high. New Zealand CPI in Q4 2017 increased 1.6%, less than the forecast of 1...
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GBP/USD Surges above 1.4000; UK’s Employment Report Next

Key Highlights The British Pound traded higher this week and broke the 1.4000 mark against the US Dollar. There is an ascending channel forming with support at 1.3960 on the 4-hours chart of GBP/USD. The current market sentiment is positive and the pair is likely to move past 1.4050. Today, the UK Claimant Change Count for Dec 2017 will be released, which is forec...
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USD/CAD: US Dollar Consolidating above 1.2360

Key Highlights The US Dollar remains in a downtrend below 1.2540 against the Canadian Dollar. There is a key bearish trend line forming with resistance at 1.2480 on the 4-hours chart of USD/CAD. A 4-hour close above the 1.2540 level is needed for the greenback to move back in the bullish zone. Canada’s Wholesale Sales increased 0.7% in Nov 2017, less than the fo...
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EUR/USD: Euro’s Strength is Here to Stay?

Key Highlights The Euro made a nice upside move this past week and traded above 1.2300 against the US Dollar. There is a connecting bullish trend line forming with current support at 1.2200 on the 4-hours chart of EUR/USD. There are many supports on the downside such as 1.2110 and 1.2080. Today in the US, the Chicago Fed National Activity Index (CFNAI) for Dec 201...
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USD/JPY Showing Positive Recovery Signs

Key Highlights The US Dollar found support after trading as low as 110.19 against the Japanese Yen. There was a break above a short-term bearish trend line with resistance at 111.15 on the 4-hours chart of USD/JPY. The pair faces many resistances on the upside at 111.80 and 112.00. The US Building Permits in Dec 2017 declined by 0.1%, less than the forecast of -1....
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Gold Price Testing Crucial Support at $1320

Key Highlights Gold price is in a major uptrend and it recently broke the $1300-1320 resistance zone against the US Dollar. There are two key bullish trend lines forming with support at $1325 and $1320 on the 4-hours chart of XAU/USD. The price remains in an uptrend as long as it is above the $1320 level. The US Industrial Production in Dec 2017 increased by 0.9%,...
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GBP/JPY: British Pound Bullish above 151.50 Vs Japanese Yen

Key Highlights The British Pound traded higher from the 150.00-150.20 support area against the Japanese Yen. A bearish trend line with current resistance at 152.80 on the 4-hours chart of GBP/JPY is protecting gains. The pair must hold the 151.95 and 151.50 support levels to remain in the bullish zone. UK’s Consumer Price Index in Dec 2017 posted 3.0% (YoY), sim...
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GBP/USD in Crucial Uptrend, UK CPI Release Next

Key Highlights The British Pound made a solid upside move recently and traded above 1.3750 against the US Dollar. A break above a major bearish trend line with resistance at 1.3550 on the 4-hours chart of GBP/USD initiated a crucial uptrend. The pair may correct a few pips during the coming sessions, but it remains supported above 1.3600. Today’s UK Consumer Pri...
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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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