AUD/USD Positioned In Downtrend Below 0.7050

Key Highlights The Aussie Dollar declined recently below the 0.7070 and 0.7040 supports against the US Dollar.A key bearish trend line is formed with resistance near 0.7030 on the 4-hours chart of AUD/USD.China’s Trade Balance posted a surplus of $13.84B, well below the $35.00B forecast.The US PPI in April 2019 could rise 0.2% (MoM), less than the last +0.6%. AUDUSD Te...
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GBP/USD Could Test 1.3000 In Near Term

Key Highlights The British Pound gained momentum recently and broke the 1.2900 resistance against the US Dollar. There are two bullish trend lines formed with support at 1.2780 on the 4-hours chart of GBP/USD. China’s Trade Balance in Dec 2018 posted a surplus of $57.06B, more than the $51.53B forecast. The US Producer Price Index for Dec 2018 will be released t...
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EURUSD – Euro Downtrend Intact Vs US Dollar

EURUSD – Euro Downtrend Intact Vs US Dollar Key Highlights             Euro after good gains against the US Dollar found resistance near 1.1600-20 and traded lower. There is a bearish trend line formed on the hourly chart of the EURUSD pair, which can be seen as a sell zone. In China, the Trade Balance released by the General Administration of Customs of...
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SILVER Steadies Ahead of US NFP

Key Highlights The US dollar remains elevated versus a few major currencies, excluding the British Pound. Chinese Trade Balance released by the General Administration of Customs of the People’s Republic of China was on the softer side and weighed on the risk sentiment. FX market awaits the US nonfarm payrolls and the unemployment report, which will be released by the ...
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USDCAD Likely To Recover Ground

Key Highlights Canadian dollar gained buyers this past week against the US dollar after the employment report, but failed to sustain momentum. USDCAD formed a major support at 1.2560 and traded back higher. Today, the US Monthly Budget Statement will be released by the Financial Management Service, which is expected to post a reading of $-43B. Technical Analysis T...
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