EUR/USD – Resistance Turned Support for Euro To Dollar

Key Highlights The Euro gained bullish momentum this past week and traded above 1.1700 against the US Dollar. There was a break above a major contracting triangle with resistance at 1.1765 on the 4-hours chart of EUR/USD. The US Building Permits in Oct 2017 increased 5.9%, much better than the forecast of +2%. Today in the Euro Zone, the German PPI numbers for Oct...
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NZDUSD Approaching an Important Support Area

NZDUSD Approaching an Important Support Area Key Highlights             New Zealand Dollar is on a declining path since it tested the 0.6830-40 resistance area. However, the NZDUSD pair is heading towards an important support area that may act as a barrier for sellers. New Zealand Business Confidence released by the ANZ increased from 14.6 to 23.0 in Decem...
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US Dollar Gains as Fed Raised Interest Rates

US Dollar Gains as Fed Raised Interest Rates Key Highlights             Fed increased the interest rates from 0.25% to 0.5%, as forecasted and as a result, the US Dollar rocketed higher. EURUSD and GBPUSD dived down and USDCAD traded higher. The upside in the USDCAD pair was contained by the 1.3850 resistance area, which acted as a barrier. In New Zealan...
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EURUSD – Short-term Correction Before Higher?

EURUSD – Short-term Correction Before Higher? Key Highlights             Euro gained this past week against the US Dollar and traded above the all-important 1.0880-1.0900 resistance area. Later, a short-term bullish trend line formed on the hourly chart was breached by sellers for a downside move. Today, the Italian Consumer Price Index will be released ...
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NZDUSD Consolidating Before Break?

NZDUSD Consolidating Before Break? Key Highlights             New Zealand Dollar dived towards the 0.6600 support area recently against the US Dollar where it just managed to find buyers. The NZDUSD pair is currently making an attempt to correct higher, but struggling to find momentum. There is a resistance formed near 0.6650-60 where sellers are defending...
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USDJPY Poised For Break Higher Above 125.20 Post JPN DCGPI

Key Highlights US Dollar continued to rocket higher against the Japanese Yen, as the USDJPY pair traded to a new weekly high above 125.20. Japanese Domestic Corporate Goods Price Index released by the Bank of Japan registered a decline of 0.2% in July 2015 whereas the market was expecting -0.1%. In terms of the yearly change, the Japanese Domestic Corporate Goods Price ...
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NZDUSD – New Zealand Dollar Trend Overwhelmingly Negative

Key Highlights New Zealand Dollar was seen struggling against the US Dollar recently, as the latter one gained a lot of traction during the past couple of sessions. There was a major release lined up today, as the New Zealand Employment Change released by the Statistics New Zealand posted a reading of 0.3% in Q2, 2015 which was lower than the forecast. New Zealand Unemp...
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USDJPY Next Leg Lower Underway

Key Highlights US dollar fell sharply against many majors including the Japanese yen as sellers stepped in. USDJPY broke a crucial support area to test 118.70 and eyes for more losses moving ahead. In the US, the ISM Non-Manufacturing Index will be released by the Institute for Supply Management (ISM), which is expected to come in at 56.5 in March 2015. Japanese Lead...
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Yen Consolidates Post Production Report

Key Highlights Japanese yen was seen consolidating against major currencies after the industrial production report. Japanese Industrial Production released by the Ministry of Economy, Trade and Industry posted a decline of 3.4% in February 2014, which is lower than the last gain of 3.7%. USDJPY trading above the all-important 119.00 support area where sellers might stru...
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Dollar Fails To Capitalize On Hawkish Yellen; New Home Sales

Key Highlights Fed’ Yellen was all hawkish in her recent speech, but that failed to ignite buying interest in the US dollar. On the other hand, the US dollar was seen losing ground against currencies such as the British pound, New Zealand dollar and the Aussie dollar. In the US, the number of new home sales will be released by the US Census Bureau, which is expected t...
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