USD/CHF Could Revisit February 2019 Highs

Key Highlights The US Dollar gained traction above the 1.0000 resistance against the Swiss Franc. USD/CHF broke a crucial bearish trend line at 0.9995 on the 4-hours chart. The US ADP Employment declined from the last revised reading of 300K to 183K in Feb 2019. The US Initial Jobless Claims for the week ending Feb 26, 2019 will be released today, which could rema...
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EUR/JPY Testing Crucial Support Near 126.30

Key Highlights The Euro climbed towards 127.50 before starting a downside correction against the Japanese Yen. A key bullish trend line is in place with support at 126.30 on the 4-hours chart of EUR/JPY. The Euro Area Retail Sales increased 1.3% (MoM) in Jan 2019, better than the +1.2% forecast. The US ADP Employment figure for Feb 2019 will be released today, whi...
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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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GBP/USD Nosedives Below Key Support, More Losses Likely

Key Highlights The British Pound formed a top near 1.2815 and later declined sharply against the US Dollar. There was a break below a major ascending channel with support at 1.2650 on the 4-hours chart of GBP/USD. The US Manufacturing PMI in Dec 2018 declined from the last revised reading of 55.3 to 53.8. Today in the US, the ADP Employment Change figure for Dec 2...
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USD/JPY Facing Uphill Task Ahead of US NFP

Key Highlights The US Dollar declined recently and broke the 113.20 support against the Japanese Yen. There is a key bearish trend line formed with resistance near 113.30 on the 4-hours chart of USD/JPY. The US ADP Employment Change in Nov 2018 declined from 225K (revised) to 179K. Today, the US nonfarm payrolls figure for Nov 2018 will be released, which is forec...
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Crude Oil Price Rebounds After Forming Support Near $50

Key Highlights Crude oil price formed a decent support near $49.50 and $50.00 against the US dollar. There was a break above a major bearish trend line with resistance at $51.50 on the 4-hours chart of XTI/USD. The Euro Zone Services PMI in Nov 2018 increased from 53.1 to 53.4. Today, the US Services PMI for Nov 2018 will be released, which is forecasted to remain...
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Gold Price Approaching Key Resistance Near $1,210

Key Highlights Gold price recovered sharply and moved back above the $1,200 support against the US Dollar. There was a break above a bearish trend line with resistance at $1,197 on the 4-hours chart of XAU/USD. The UK Construction PMI in Sep 2018 declined from 52.9 to 52.1. The US ADP Employment figure for Sep 2018 will be released today, which is likely to increa...
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USD/JPY Breaks Down Below 110.80 Ahead of US NFP

Key Highlights The US Dollar struggled on two occasions to break the 111.80 resistance against the Japanese Yen. There was a double top pattern formed with resistance at 111.80-82 on the 4-hour chart of USD/JPY. The US ADP Employment Change in August 2018 was 163K, less than the 190K forecast. Today, the US NFP figure for August 2018 will be released, which is for...
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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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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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