Gold Price Showing Bearish Signs, Fed Decision Next

Key Highlights Gold price struggled to climb above $1,520 and declined recently against the US Dollar.There was a break below a major bullish trend line with support near $1,490 on the 4-hours chart of XAU/USD.The US Pending Home Sales increased 1.5% in Sep 2019 (MoM), more than the +0.9% forecast.The US GDP is likely to grow 1.7% in Q3 2019 (Preliminary), down from the las...
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USD/CAD Awaits Canada’s CPI and Fed Decision, Oil Price Trimming Gains

Key Highlights The US Dollar climbed higher recently above 1.3200 against the Canadian Dollar. Oil prices surged higher this week after weekend’s attack on Saudi Arabia’s massive oil facility.The US Industrial Production increased 0.6% in August 2019 (MoM), more than the +0.2% forecast.Canada’s CPI could decline 0.1% in August 2019 (MoM), whereas it increased last mon...
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EUR/GBP Correcting Recent Rally, Fed Cuts Interest Rates

Key Highlights The Euro surged higher this week and broke the 0.9150 resistance against the British Pound. EUR/GBP broke a crucial bearish trend line at 0.8970 on the 4-hours chart to start uptrend.The Euro Area GDP grew 1.1% in Q2 2019 (Prelim) (YoY), more than the 1.0% forecast.The Fed lowered interest rates from 2.50% to 2.25%, in line with the market forecast.The BoE In...
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USD/CAD Tumbles Below 1.3300 Post Fed Policy

Key Highlights The US Dollar failed to surpass the 1.3430-1.3440 resistance zone against the Canadian Dollar. USD/CAD traded below a major bullish trend line with support at 1.3390 on the 4-hours chart.Canada’s Consumer Price Index (CPI) increased 0.4% (MoM), more than the +0.2% forecast.The US Initial Jobless Claims for the week ending June 15, 2019 might decline from 22...
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Crude Oil Price Facing Key Resistance, Fed Next

Key Highlights Crude oil price formed a strong support above $51.00 against the US dollar.There was a break above a major bearish trend line at $52.20 on the 4-hours chart of XTI/USD.The US Housing Starts declined 0.9% in May 2019, more than the market expectation (-0.4%).The Fed interest rate decision is scheduled today and the central bank is likely to make no changes in ...
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Gold Price Approaching Resistance, Fed Decision Next

Key Highlights Gold price started an upside correction from $1,266 against the US Dollar.There is a major bearish trend line forming with resistance near $1,292 on the 4-hours chart of XAU/USD.The US Pending Home Sales increased 3.8% in March 2019, more than the 1.1% forecast.The Fed Interest Rate Decision is scheduled today (forecast 2.5%, versus 2.5% previous). Gold Pr...
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USD/CHF Tumbles Below Key Supports

Key Highlights The US Dollar topped at 1.0124 and declined below 1.0000 against the Swiss Franc. USD/CHF traded below a key bullish trend line with support at 1.0045 on the 4-hours chart. The Federal Reserve made no change in interest rates from 2.5%. The US Initial Jobless Claims for the week ending March 16, 2019 will be released today, which could decline from ...
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Gold Price Could Continue To Rise Near Term

Key Highlights Gold price found support near $1,292 recently and climbed above $1,300 against the US Dollar. There was a break above a key bearish trend line with resistance at $1,305 on the 4-hours chart of XAU/USD. The US Factory Orders increased 0.1% in Jan 2019 (MoM), less than the +0.3% forecast. The Fed Interest Rate Decision is scheduled later today (foreca...
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AUD/USD Facing Significant Resistance Near 0.7200

Key Highlights The Aussie Dollar failed to surpass the 0.7200 barrier and declined recently against the US Dollar. There is a major bearish trend line in place with resistance at 0.7190 on the 4-hours chart of AUD/USD. Australia’s CPI in Q4 2018 increased 0.5% (QoQ), more than the 0.4% forecast. Today, the Fed Interest Rate Decision is scheduled (Forecast 2.5%, ...
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Gold Price In Significant Uptrend, Fed Rate Decision Next

Key Highlights Gold price climbed higher recently and broke the $1,240 resistance against the US Dollar. There was a break above a major bearish trend line with resistance at $1,242 on the 4-hours chart of XAU/USD. The US Housing Starts in Nov 2018 increased from the last revised reading of 1.217M to 1.256M (MoM). Today, the Fed Interest Rate Decision will be anno...
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