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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USD/CHF Breaks Key Support Ahead of Fed’s Rate Decision

Key Highlights The US Dollar started a downside move from the 1.0090 resistance against the Swiss Franc. There was a break below two important bullish trend lines at 1.0030 on the 4-hours chart of USD/CHF. The Euro Area Retail Sales in Sep 2018 increased 0.8% (YoY), more than the 0.7% forecast. Today, the Fed Interest Rate Decision is scheduled, which is forecaste...
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Crude Oil Price Could Revisit $66.50, Upsides Remain Capped

Key Highlights Crude oil price completed an upward recovery above the $70.50 level against the US dollar. There was a break below a crucial ascending channel support at $69.05 on the 4-hours chart of XTI/USD. The US ADP Employment change came in at 219K, more than the 185K forecast. The Federal Reserve kept the interest rates at 2%, in line with the market expecta...
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AUD/USD Facing Uphill Task Ahead of Fed Decision

Key Highlights The Aussie Dollar declined heavily in June 2018 and traded towards 0.7300 against the US Dollar. There is a crucial bearish trend line in place with resistance at 0.7500 on the daily chart of AUD/USD. The US Personal Income in June 2018 increased 0.4% (MoM), in line with the market forecast. Today, the Fed Interest rate decision is scheduled, and th...
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GBP/USD Downsides Remain Supported above 1.3950

Key Highlights The British Pound recently made a short-term top at 1.4080 against the US Dollar. There is a crucial bullish trend line in place with support at 1.3950 on the 4-hours chart of GBP/USD. The UK CPI in Feb 2018 increased 0.4%, less than the forecast of +0.5% (MoM). Today, the UK Claimant Count Change for Feb 2018 will be released, which is forecasted t...
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Gold Price Forming Short-term Top?

Key Highlights Gold price is in a monster uptrend and it recently traded above the $1,360 level against the US Dollar. It seems like a short-term correction is underway with a break of a bullish trend line with support at $1,350 on the daily chart of XAU/USD. The US ADP Employment Change in January 2018 was 234K, more than the forecast of 185K. The Fed interest ra...
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