GBP/USD Eyeing Further Upsides In Near Term

Key Highlights The British Pound struggled again to surpass the 1.2760 resistance against the US Dollar. GBP/USD remains supported on dips near the 1.2680 and 1.2665 levels.The Chicago Fed National Activity Index in June 2019 increased from -0.48 to -0.05.The US Consumer Confidence in June 2019 might decrease from 134.1 to 131.2. GBPUSD Technical Analysis This past we...
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GBP/USD Showing Signs of Further Weakness

Key Highlights The British Pound is trading in a downtrend below the 1.2800 support against the US Dollar. Two bearish trend lines are formed near 1.2735 on the 4-hours chart of GBP/USD.There is a risk of more downsides unless the pair settles above 1.2800.The US Consumer Confidence in May 2019 could increase from 129.2 to 130.1. GBPUSD Technical Analysis This past we...
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GBP/USD Approaching Crucial Resistance Near 1.3300

Key Highlights The British Pound recovered nicely after trading towards the 1.3000 support against the US Dollar. A major bullish trend line is in place with support at 1.3120 on the 4-hours chart of GBP/USD. The Chicago Fed National Activity Index (CFNAI) declined from -0.25 to -0.29 in Feb 2019. The US Consumer Confidence in March 2019 could increase from 131.4 ...
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GBP/USD Remains In Significant Uptrend

Key Highlights The British Pound climbed higher recently and settled above the 1.3000 pivot against the US Dollar. There is a major bullish trend line in place with support at 1.3070 on the 4-hours chart of GBP/USD. The Chicago Fed National Activity Index (CFNAI) increased from 0.21 to 0.27 in Dec 2018. Today in the US, the Consumer Confidence for Jan 2019 will be...
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EURJPY – Euro To Japanese Yen Overcomes Bearish Trend

Key Highlights The upside move in the Euro continued, as it traded positively above 119.00 against the Japanese Yen. The EURJPY pair is now well above the 119.20 resistance, and the 100 and 200 simple moving averages (H4). Today in Japan, the Corporate Service Price Index (CSPI) for Feb 2017 (YoY) released by the Bank of Japan posted an increase of 0.8%. Today in ...
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Gold Price Approaching Monster Hurdle Vs US Dollar

Key Highlights Gold price is trading with a positive bias, but heading towards a monster resistance at $1280. The weekly chart of gold price clearly highlights a major resistance around $1280 and $1300. Today in the US, the Consumer Confidence for March 2017 will be released by the Conference Board, which is forecasted to decrease from 114.8 to 113.8. The Richmond...
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USDJPY – US Dollar Poised For Further Gains Vs Japanese Yen

USDJPY – US Dollar Poised For Further Gains Vs Japanese Yen Key Highlights The US dollar remained in an uptrend against the Japanese yen, as it moved above 104.00. There was a descending channel pattern formed on the 4-hours chart of USDJPY, which was broken to clear the 104.00 resistance. Today, the Consumer Confidence will be released by the Conference Board, wh...
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USDJPY – Japanese Yen Proving Its Safe Haven Status

USDJPY – Japanese Yen Proving Its Safe Haven Status Key Highlights US Dollar faced a lot of selling pressure against the Japanese yen post the Brexit decision, as the USDJPY pair declined heavily. There was a sharp downside move in USDJPY, taking the pair below a major support area of 104.00-103.60. In the US today, the Gross Domestic Product Annualized will be re...
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AUDJPY – Risk of Further Losses In Aussie Dollar Vs Yen

AUDJPY - Risk of Further Losses In Aussie Dollar Vs Yen Key Highlights Aussie Dollar recently traded higher vs the Japanese yen, but the real question is whether it can continue to gain bids. There was a bearish trend line formed on the hourly chart of the AUDJPY pair, which was cleared by the bulls during the upside move. Australian Building Permits released by the...
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USDCHF – Swiss Franc Continues To Gain Traction

USDCHF – Swiss Franc Continues To Gain Traction Key Highlights             US Dollar struggled against the Swiss Franc, and traded down below the 0.9700 support area. There was a major support trend line formed on the 4-hours chart of USDCHF, which was broken to clear the way for more losses. In the US, the Consumer Confidence released by the Conference ...
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