AUD/USD – Aussie Dollar to Consolidate Before Next Move?

Key Highlights The Aussie Dollar struggled recently and traded towards 0.7620-0.7600 against the US Dollar. There is a key bearish trend line forming with resistance at 0.7695 on the 4-hours chart of AUD/USD. Australia’s HIA/AiG Performance of Construction Index in Oct 2017 declined from the last reading of 54.7 to 53.2. Today in the US, the IBD/TIPP Economic Op...
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EUR/USD – Euro in Slow and Steady Downtrend Vs US Dollar

Key Highlights The Euro failed to recover this past week near 1.1680 against the US Dollar and declined. There was a break below an ascending channel with support at 1.1630 on the 4-hours chart of EUR/USD. This past Friday, the US nonfarm payrolls number for Oct 2017 was released, which posted 261K versus the 310K forecast. Today, the Euro Zone’s Services PMI fo...
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USD/JPY – Dollar In Steady Uptrend Vs Japanese Yen Ahead of NFP

Key Highlights The US Dollar remained elevated above the 113.50 pivot against the Japanese Yen. There is a crucial bullish trend line in place with support at 113.60 on the 4-hours chart of USD/JPY. The US Non-farm Productivity in Q3 2017 (Preliminary) rose 3%, compared with the +2.4% forecast. Today, the US nonfarm payrolls report for Oct 2017 will be released, w...
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GBP/USD – British Pound Primed for Lift-off; Eyes BOE’s Decision

Key Highlights The British Pound started a nice uptrend from well below 1.3100 against the US Dollar. The GBP/USD pair surged higher recently and broke two important bearish trend lines at 1.3250 on the 4-hours chart. UK’s Manufacturing PMI in Oct 2017 rose from the last reading of 55.9 to 56.3. Today, the BOE’s interest rate decision is scheduled and the cent...
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NZD/USD – New Zealand Dollar Sellers In Driver’s Seat Vs USD

Key Highlights The New Zealand Dollar made a downside move from the 0.7200 swing high against the US Dollar. There is a major bearish trend line forming with resistance at 0.6900-0.6920 on the 4-hours chart of NZD/USD. New Zealand’s Employment Change in Q3 2017 was 2.2%, compared with the forecast of 0.8%. Today in the US, the Fed Interest rate decision is sched...
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EUR/JPY – Euro To Japanese Yen’s Long Term View

Key Highlights The Euro is in a solid uptrend from the 115.00 swing low against the Japanese Yen, but facing hurdles near 134.50. There was a break above a monster bearish trend line at 120.00 on the weekly chart of EUR/JPY. Recently, the Germany’s consumer price index preliminary reading for Oct 2017 came in at 1.6% (YoY), less than the forecast of +1.7%. Today...
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EUR/USD – Euro Breaks Key Support Vs US Dollar

Key Highlights The Euro moved down sharply this past week and traded below 1.1700 against the US Dollar. There was a break below a crucial triangle support at 1.1735 on the 4-hours chart of EUR/USD. The US Gross Domestic Product (Q3 2017) (Annualized) (Prelim) posted a growth of 3%, more than the forecast of 2.5%. Today, the Euro Zone Economic Confidence for Oct 2...
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USD/JPY – Dollar Remains Supported Vs Yen Ahead of US GDP

Key Highlights The US Dollar is placed nicely above the 113.20 support area against the Japanese Yen. There is a crucial bullish trend line forming with support at 113.50 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending Oct 21, 2017 posted a rise from the last revised reading of 223K to 233K. Japan’s National Consumer Price Inde...
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USD/CHF – US Dollar In Monstrous Uptrend Vs Swiss Franc

Key Highlights The US Dollar climbed higher this week and moved above 0.9840 against the Swiss Franc. There is a short-term bullish trend line forming with support at 0.9880 on the 4-hours chart of USD/CHF. The US New Home Sales in Sep 2017 increased by 18.9% (MoM), better than the forecast of -0.9%. Today, the US Pending Home Sales for Sep 2017 will be released, ...
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Gold Price Upsides Remain Limited Above $1295 Vs US Dollar

Key Highlights Gold price struggled to settle above $1300 against the US Dollar and moved down. There is a major bullish trend line forming with support at $1270 on the daily chart of XAU/USD. The US Manufacturing PMI in Oct 2017 (Prelim) posted a rise from the last reading of 53.1 to 54.5. Today, the US New Home Sales for Sep 2017 will be released, which is forec...
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