EUR/JPY Could Rally If It Breaks 121.50

Key Highlights EUR/JPY is trading in a positive zone above the 120.00 support.The pair is facing a strong resistance near 121.50 on the 4-hours chart.The Euro Zone Services PMI in Oct 2019 increased from 51.8 to 52.2.The BoE Interest Rate Decision is scheduled today (forecast – no change in rates from 0.75%). EUR/JPY Technical Analysis The Euro settled nicely above ...
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EUR/GBP Correcting Recent Rally, Fed Cuts Interest Rates

Key Highlights The Euro surged higher this week and broke the 0.9150 resistance against the British Pound. EUR/GBP broke a crucial bearish trend line at 0.8970 on the 4-hours chart to start uptrend.The Euro Area GDP grew 1.1% in Q2 2019 (Prelim) (YoY), more than the 1.0% forecast.The Fed lowered interest rates from 2.50% to 2.25%, in line with the market forecast.The BoE In...
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GBP/JPY Signaling Bullish Continuation Above 146.00

Key Highlights The British Pound traded higher recently and broke the 145.00 resistance against the Japanese Yen.GBP/JPY broke a connecting bearish trend line with resistance at 144.90 on the 4-hours chart.The US ADP Employment in April 2019 changed 275K, better than the 180K forecast.Today, the BoE Interest Rate Decision is scheduled in the UK (forecast – no change from ...
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GBP/JPY Upsides Remain Capped By 146.00

Key Highlights The British Pound declined recently and settled below a major support at 146.20 against the Japanese Yen. There is a key bearish trend line in place with resistance at 146.90 on the 4-hours chart of GBP/JPY. Recently in the UK, the CBI Industrial Trends Index increased from -3 to 13 in June 2018. Today in the UK, the BOE interest rate decision is li...
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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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Can GBP/JPY Continue Trading Higher?

Key Highlights The British Pound made a nice upside move and traded above 149.00 against the Japanese Yen. There is a major ascending channel forming with support at 148.20 on the 4-hours chart of GBP/JPY. The UK Claimant Count Change came in at 9.2K in Feb 2018, compared with the forecast of -5.0K. Today, the BOE interest rate decision is scheduled and the market...
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USD/CAD Poised to Gain Bullish Momentum

Key Highlights The US Dollar traded higher this week and moved above 1.2400 against the Canadian Dollar. There was a break above a major declining channel with resistance at 1.2380 on the 4-hours chart of USD/CAD. The Building Permits in Canada in Dec 2017 increased 4.2%, more than the forecast of +2.0%. A lot of high risk events are lined up today, including Germ...
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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 – Monster Bullish Break Sighted For NZD on Weekly Chart

Key Highlights The New Zealand Dollar after forming a base near 0.6850 against the US Dollar started an uptrend. The NZD/USD pair has cleared two important bearish trend lines on the weekly chart at 0.7150 to signal a major bullish trend. Today in New Zealand, the Gross Domestic Product for Q1 2017 released by the Statistics New Zealand posted an increase of 0.5%. ...
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USDJPY – US Dollar Targets Fresh High Vs Japanese Yen

Key Highlights The US Dollar remains in a solid uptrend with a close above 112.80 against the Japanese Yen. There is a monster support formed on the downside near 113.00 with two bullish trend lines on the 4-hours chart of USDJPY. Today in Japan, the Bank lending for April 2017 (YoY), released by Bank of Japan registered a rise of 3%. The Japanese Trade Balance Ma...
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