USD/CAD Eyes Larger Recovery Above 1.3160, BoC Next

Key Highlights The US Dollar declined to 1.3037 and recently corrected higher against the Canadian Dollar. USD/CAD traded above a bearish trend line with resistance near 1.3080 on the 4-hours chart.The NFIB Business Optimism Index declined from 105.0 to 103.3 in June 2019.The Bank of Canada is likely to keep interest rates at 1.75% in today’s rate decision. USDCAD Tech...
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USD/CHF Rallies To New 3-Year High

Key Highlights The US Dollar rallied and traded to a new 3-year high above 1.0200 against the Swiss Franc.USD/CHF broke a crucial ascending channel near 1.0060 on the 4-hours chart and surged higher.The US New Home Sales in March 2019 increased 4.5% (MoM), whereas the forecast was -2.5%.The BoC Interest Rate Decision will be announced today (forecast – no change from 1.75...
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Crude Oil Price to Decline Further Towards $55.00?

Key Highlights Crude oil price struggled to move above the $58.00-59.00 levels and moved down against the US dollar. There was a break below a major bullish trend line with support at $57.40 on the 4-hours chart of XTI/USD. The US Services PMI in Nov 2017 decreased from the preliminary reading of 54.7 to 54.5. Today, the US ADP Employment Change will be released f...
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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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USD/CAD – US Dollar In Medium-term Downtrend Vs Canadian Dollar

Key Highlights The US Dollar tumbled against the Canadian Dollar during the past few weeks and traded below 1.2200. There was a break below a monster bullish trend line with support at 1.3200 on the weekly chart of USD/CAD. Back to back interest rate hikes by the BoC prompted a sharp selling interest in USD/CAD. Canada’s Housing Starts in August 2017 were 223.2K...
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GBP/USD – British Pound Back In Bullish Zone Vs US Dollar

Key Highlights The British Pound formed a bottom near 1.2773 against the US Dollar, and currently trading above 1.3000. The GPP/USD pair broke a major resistance area near 1.3000 on the 4-hours chart to open the doors for more upsides. German Factory orders in July 2017 posted a decline of 0.7% (MoM). Today, the BoC Interest Rate Decision is lined up and the centr...
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GBP/USD – Can Cable Hold 1.2820 Ahead of Employment Report?

Key Highlights The British Pound was under renewed selling pressure and traded below 1.2920-00 against the US Dollar. There was a break below a major bullish trend line with support at 1.2945 on the 4-hours chart of GBP/USD. Today in the UK, the Claimant Count Change will be released, which is forecasted to post 10K. Recently in the US, the NFIB Business Optimism ...
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NZDUSD – Increased Bullish Bias For Kiwi Dollar

NZDUSD – Increased Bullish Bias For Kiwi Dollar Key Highlights The New Zealand dollar enjoyed a decent upside move against the US Dollar and looks set for more upsides. There is a critical support formed on the downside for the NZDUSD pair in the form of a bullish trend line on the hourly chart. New Zealand Food Price Index (FPI) released by the Statistics New Zea...
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