EUR/USD Tumbles To New 2-Year Low, More Downsides Ahead

Key Highlights The Euro extended its decline and traded below 1.1000 against the US Dollar. EUR/USD might correct higher, but most likely to struggle near 1.1020 and 1.1050.The Caixin China Manufacturing PMI increased from 49.9 to 50.4 in August 2019.The Euro Zone Manufacturing PMI is likely to remain flat near 47.0 in August 2019. EUR/USD Technical Analysis This pas...
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EURUSD – Can Euro Retain Bullish Trend Vs US Dollar?

Key Highlights The Euro remained above the 1.0800 support against the US Dollar this past, and traded with a positive bias. There are many supports on the downside for the EURUSD pair like 1.0850 and 1.0820. Today in China, the Manufacturing Purchasing Managers Index (PMI) for April 2017 released by the China Federation of Logistics and Purchasing (CFLP) posted a dec...
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GBPUSD – Is Rebound a Correction or a Bullish Trend Change?

GBPUSD - Is Rebound a Correction or a Bullish Trend Change? Key Highlights The British Pound mostly traded in a range with resistance near 1.2530 against the US Dollar. There is a major bearish trend line and a crucial bullish trend line formed on the hourly chart of GBPUSD, acting as a resistance and support respectively. Today in China, the Manufacturing Purchasin...
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AUDUSD – Aussie Dollar Remains a Sell Until this Changes

AUDUSD – Aussie Dollar Remains a Sell Until this Changes Key Highlights The Aussie dollar traded lower during the past few days versus the US Dollar and remained under pressure. There is a major bearish trend line formed on the 4-hours chart of the AUDUSD pair, which acted as a barrier for buyers. The pair is now below the 100 simple moving average (H4), which is ...
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NZDUSD – Next Leg Higher Underway In Kiwi Dollar

NZDUSD - Next Leg Higher Underway In Kiwi Dollar Key Highlights New Zealand dollar spiked higher vs the US Dollar recently and traded above the 100 hourly simple moving average. The NZDUSD pair also broke a bearish trend line formed on the hourly chart to open the gates for more gains. In the US, the Manufacturing Purchasing Managers Index (PMI) will be released by ...
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