EUR/USD at Clear Risk of Further Declines

Key Highlights The Euro formed a significant top at 1.1514 and declined heavily against the US Dollar. EUR/USD broke a few important supports such as 1.1440 and 1.1400. The German Trade Balance in Dec 2018 posted a surplus of €19.4B, better than the €18.4B forecast. UK GDP for Q4 2016 (Preliminary) will be released today, which could grow 0.2% (QoQ). EURUSD...
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GBP/USD – Cable Breaks Significant Resistance at 1.3280

Key Highlights The British Pound traded higher recently and broke the 1.3280 resistance against the US Dollar. There was a break above two crucial bearish trend lines with resistance near 1.3280 on the 4-hours chart of GBP/USD. The US Durable Goods Orders in Oct 2017 declined 1.2% whereas the market was looking for a 0.3% rise. The UK GDP figure for Q3 2017 will b...
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Gold Price Upsides Remain Limited Above $1295 Vs US Dollar

Key Highlights Gold price struggled to settle above $1300 against the US Dollar and moved down. There is a major bullish trend line forming with support at $1270 on the daily chart of XAU/USD. The US Manufacturing PMI in Oct 2017 (Prelim) posted a rise from the last reading of 53.1 to 54.5. Today, the US New Home Sales for Sep 2017 will be released, which is forec...
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GBPJPY – British Pound Under Renewed Selling Pressure Vs Yen

Key Highlights The British Pound after trading close to 142.00 against the Japanese yen found sellers. There GBPJPY pair failed to break a bearish trend line with resistance at 142.00 on the 4-hours chart. The Q4 2016 Gross Domestic Product preliminary release in the UK by the National Statistics was disappointing, as there was an increase of 2% (YoY), less than the ...
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GBPUSD – 1.2240 Holds Key For British Pound; UK GDP Next

GBPUSD – 1.2240 Holds Key For British Pound; UK GDP Next Key Highlights The British Pound recovered recently to trade above 1.2150 against the US Dollar. There is a crucial resistance formed near 1.2220-40, as a couple of bearish trend lines are positioned. Today, the UK preliminary Gross Domestic Product will be released by the National Statistics, which is forec...
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