GBP/USD Rebound Could Face Hurdles

Key Highlights The British Pound declined heavily and broke the 1.3040 support area against the US Dollar. Two bearish trend lines formed with resistance at 1.2970 and 1.3025 on the 4-hours chart of GBP/USD. The UK Manufacturing Production in Dec 2018 declined 0.7% (MoM), compared with the +0.1% forecast. Today in the US, the NFIB Business Optimism Index for Jan 2...
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USD/JPY – US Dollar Turning Bearish Vs Japanese Yen

Key Highlights The US Dollar failed to settle above 114.50-115.00 levels against the Japanese Yen and moved down. It seems like the USD/JPY broke a major triangle support at 113.85 on the 4-hours chart. The US Wholesale Inventories in Sep 2017 increased 0.3%, just as the market expected. Today, the Michigan Consumer Sentiment Index (Prelim) for Nov 2017 will be re...
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NZD/USD – New Zealand Dollar To Depreciate Further Vs US Dollar

Key Highlights The New Zealand Dollar started a major downtrend and settled below 0.7150 against the US Dollar. There is a crucial bearish trend line forming with resistance at 0.7100 on the 4-hours chart of NZD/USD. New Zealand’s Electronic Card Retail Sales in Sep 2017 increased 0.1% (MoM). Today in the US, the IBD/TIPP Economic Optimism Index for Oct 2017 wil...
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USDJPY – US Dollar Targets Fresh High Vs Japanese Yen

Key Highlights The US Dollar remains in a solid uptrend with a close above 112.80 against the Japanese Yen. There is a monster support formed on the downside near 113.00 with two bullish trend lines on the 4-hours chart of USDJPY. Today in Japan, the Bank lending for April 2017 (YoY), released by Bank of Japan registered a rise of 3%. The Japanese Trade Balance Ma...
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GBPUSD – British Pound Likely to Break Lower Versus Greenback

GBPUSD – British Pound Likely to Break Lower Versus Greenback Key Highlights The British Pound after trading above 1.2550 against the US dollar failed, and traded lower. There was a bullish trend line formed on the hourly chart of GBPUSD, meeting at 1.2400 was broken. Today, the UK British Retail Consortium (BRC) Like-For-Like Retail Sales was released, which post...
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GBPUSD Signaling Bullish Continuation

Key Highlights British Pound rocketed higher against the US Dollar, as the UK Industrial Production report came above the forecast. UK Industrial Production released by the National Statistics registered a rise of 0.5% in March 2015, compared with the forecast of no change. UK Manufacturing Production also posted a higher reading, as it rose by 0.4%. UK Industrial Pr...
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