Gold Price Breaks Key Resistance, Dips Remain Supported

Key Highlights Gold price started a fresh increase above $1,288 and $1,300 resistances against the US Dollar.There was a break above a key bearish trend line at $1,281 on the 4-hours chart of XAU/USD.The US Factory Orders in April 2019 declined 0.8%, less than the -0.9% forecast.The US ISM Non-Manufacturing Index in May 2019 is likely to remain stable at 55.5. Gold Price...
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EUR/GBP Could Trade Further Higher Toward 0.9080

Key Highlights The Euro found fresh bids near the 0.8940 level and recovered against the British Pound. There was a break above a major bearish trend line with resistance at 0.9010 on the 4-hour chart of EUR/GBP. The Euro Zone Services PMI in August 2018 remained stable at 54.4. Today, the US ADP Employment Change for August 2018 will be released, which is forecas...
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EUR/GBP Holding Crucial Support Near 0.8800

Key Highlights The Euro corrected lower after trading as high as 0.8890 against the British Pound. There is a major bullish trend line in place with support at 0.8800 on the 4-hours chart of EUR/GBP. The Euro Zone Services PMI in June 2018 increased from the last reading of 55.0 to 55.2. Today in the US, the Services PMI for June 2018 will be released, which is fo...
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Can Gold Price Recover Above $1,260 In Near Term?

Key Highlights Gold price declined recently and tested the $1,240 support area against the US Dollar. There was a break above a declining channel with resistance at $1,248 on the 4-hours chart of XAU/USD. The US Factory orders in May 2018 increased 0.4%, more than the forecast of 0%. Today in the Euro Zone, the Services PMI for June 2018 will be released, which is...
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GBP/USD – Can British Pound Break 1.3600 Vs US Dollar?

Key Highlights The British Pound is moving higher and is currently trading above the 1.3420 support against the US Dollar. There is a crucial bullish trend line forming with support at 1.3430 on the 4-hours chart of GBP/USD. The US Factory Orders declined by 0.1% in Oct 2017, less than the forecast of -0.4%. Today, the UK Services PMI for Nov 2017 will be released...
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EUR/USD – Euro in Slow and Steady Downtrend Vs US Dollar

Key Highlights The Euro failed to recover this past week near 1.1680 against the US Dollar and declined. There was a break below an ascending channel with support at 1.1630 on the 4-hours chart of EUR/USD. This past Friday, the US nonfarm payrolls number for Oct 2017 was released, which posted 261K versus the 310K forecast. Today, the Euro Zone’s Services PMI fo...
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AUD/USD – Aussie Dollar Breaks Key Support Area Vs US Dollar

Key Highlights The Aussie Dollar fell sharply after yesterday’s RBA monetary policy decision and broke a key support at 0.7625. The AUD/USD pair declined below a crucial bullish trend line at 0.7620 on the 4-hours chart. Today in Australia, the AiG Performance of Services Index for May 2017 released by the Australian Industry Group posted a rise from 51.5 to 54.8. ...
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EUR/USD – Euro To Dollar Eyeing Further Upsides

Key Highlights The Euro is gaining bullish momentum above 1.1250 against the US Dollar. There was a break above a major channel resistance at 1.1185 to open the doors for upsides above 1.1250-60 in EUR/USD. May’s 2017 NFP figure posted an increase of 138K, which was a lot less than the forecast of 185K. Today, the Euro Zone Services PMI for May 2017 will be rele...
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AUDUSD – Aussie Dollar Struggle To Continue Vs US Dollar

Key Highlights The Aussie Dollar remained under pressure with resistance at 0.7550 and 0.7460 against the US Dollar. There is a monster bearish trend line resistance formed at 0.7540-50 on the 4-hours chart of AUDUSD. Today in Australia, the trade balance for March 2017 released by the Australian Bureau of Statistics posted a trade surplus of 3,107M. Today in the ...
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EURJPY – Is This The Push Euro Needed Vs Japanese Yen?

Key Highlights The Euro made a nice upside move against the Japanese yen recently and broke the 119.80 resistance. The EURJPY pair also broke a couple of bearish trend lines near 119.80 and 120.00 on the 4-hours chart. In Japan, the National Consumer Price Index for Jan 2017 (YoY) released by the Statistics Bureau posted a rise of 0.4%, same as the forecast. The J...
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