EUR/JPY Trading Near Make-or-Break Levels

Key Highlights The Euro started a decent recovery from the 120.78 low against the Japanese Yen. EUR/JPY recovered above 121.50 and a bearish trend line on the 4-hours chart.The Euro Zone Services PMI increased from 52.8 to 52.9 in May 2019.The Euro Zone GDP could grow 0.4% in Q1 2019 (QoQ), similar to the last reading. EURJPY Technical Analysis After a sharp decline, ...
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GBP/USD In Significant Downtrend Below 1.3000

Key Highlights The British Pound traded to a new monthly low at 1.2865 against the US Dollar.A major bearish trend line is forming with resistance near 1.2980 on the 4-hours chart of GBP/USD.The US Personal Income in March 2019 (MoM) increased 0.1%, less than the 0.4% forecast.The US Pending Home Sales could rise 0.5% in March 2019 (MoM). GBPUSD Technical Analysis Ear...
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EUR/GBP Could Continue To Rebound In Near Term

Key Highlights The Euro formed a solid support near 0.8620 and recovered against the British Pound. There was a break above a crucial bearish trend line with resistance at 0.8660 on the 4-hours chart of EUR/GBP. The Euro Zone Economic Confidence Index in Jan 2019 declined from 107.4 to 106.2. Today, the Euro Zone GDP figure for Q4 2018 (Prelim) will be released, w...
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EUR/GBP Remains in Major Uptrend Above 0.8880

Key Highlights The Euro traded above the 0.9000 level recently before correcting lower against the British Pound. There is a crucial ascending channel in place with support at 0.8900 on the daily chart of GBP/USD. The Euro Area Gross Domestic Product for Q2 2018 (Prelim) posted a rise of 0.4% (QoQ), more than the forecast of 0.3%. Today, the UK Consumer Price Inde...
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GBP/USD: Here is Why Upsides Are Limited

Key Highlights The British Pound faced a strong resistance near 1.3200 against the US Dollar. There is a significant bearish trend line in place with resistance at 1.3185 on the daily chart of GBP/USD. UK’s Mortgage Approvals in June 2018 were 65.619K, more than the forecast of 65.500K. Today, the Euro Zone Gross Domestic Product figure for Q2 2018 (Preliminary)...
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EUR/GBP Upsides Remain Capped Near 0.8800

Key Highlights The Euro remained confined in a broad range below the 0.8800 resistance against the British Pound. There is a major bearish trend line in place with resistance near 0.8800 on the 4-hours chart of EUR/GBP. On the downside, supports are seen near the 0.8720 and 0.8700 levels. Today in the Euro Zone, the GDP report for Q1 2018 will be released, which i...
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EUR/GBP Remains in Steady Uptrend

Key Highlights The Euro made a nice upside move and traded above the 0.8920 resistance against the British Pound. There is a connecting bullish trend line forming with support at 0.8920 on the 4-hours chart of EUR/GBP. The Euro Zone Gross Domestic Product increased 0.6% in Q4 2017, similar to the market forecast. Today, the ECB Interest Rate Decision will be annou...
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GBP/USD is Approaching Crucial Resistance

Key Highlights The British Pound started a new upside wave and traded above 1.3800 against the US Dollar. There is a crucial bearish trend line forming with resistance at 1.3980 on the 4-hours chart of GBP/USD. The US Factory orders declined 1.4% in Jan 2018, more than the forecast of -1.3%. The US Trade Balance figure for Jan 2018 will be released today, which is...
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Gold Price Turns Bearish Versus US Dollar

Key Highlights Gold price made a U-turn and declined below the $1275 support against the US Dollar. There was a break below an important ascending channel with support at $1282 on the 4-hours chart of XAU/USD. The US ADP Employment Change in Nov 2017 was 190K, better than the forecast of 185K. Today, the US Initial Jobless Claims for the week ending Dec 2, 2017 wi...
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EUR/JPY – Euro To Japanese Yen’s Long Term View

Key Highlights The Euro is in a solid uptrend from the 115.00 swing low against the Japanese Yen, but facing hurdles near 134.50. There was a break above a monster bearish trend line at 120.00 on the weekly chart of EUR/JPY. Recently, the Germany’s consumer price index preliminary reading for Oct 2017 came in at 1.6% (YoY), less than the forecast of +1.7%. Today...
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