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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NZD/USD – New Zealand Dollar Is Increasingly Bullish Vs USD

Key Highlights The New Zealand Dollar has formed a medium term bullish trend above 0.7100 against the US Dollar. There are two important bullish trend lines with support at 0.7100 and 0.7030 formed on the 4-hours chart of NZD/USD. Today in New Zealand, the Manufacturing sales for Q1 2017, released by Statistics New Zealand posted a decline of 0.3%. Today, the Euro...
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GBPUSD – Can British Pound Stay Above 1.2850 Vs US Dollar?

Key Highlights The British Pound after struggling to remain above the 1.2950 resistance against the US Dollar moved down. The GBPUSD pair is trading above a major bullish trend line with support at 1.2870 on the 4-hours chart. Today in the UK, the British Retail Consortium (BRC) Shop Price Index for April 2017 (YoY) posted a decline of 0.5%. Today in the US, the a...
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