Gold Price Hesitates But Further Gains Seem Likely

Key Highlights Gold price formed a solid support near $1,485 and climbed above $1,515 against the US Dollar.There was a break above a major bearish trend line at $1,506 on the 4-hours chart of XAU/USD.The US Consumer Confidence declined sharply from 134.2 to 125.1 in Sep 2019.The US New Home Sales could increase 3.9% in August 2019 (MoM), better than the last -12.8%. Gol...
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GBP/USD Approaching Key Uptrend Support

Key Highlights The British Pound started a downside correction from 1.2580 against the US Dollar. GBP/USD might find bids near 1.2380 and a bullish trend line on the 4-hours chart.The US Manufacturing PMI in Sep 2019 (Prelim) increased from 50.3 to 51.0.The US Consumer Confidence (CB) could decline from 135.1 to 134.1 in Sep 2019. GBP/USD Technical Analysis This past ...
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USD/CHF Eyes Upside Break, Dips Supported Near 0.9750

Key Highlights The US Dollar remains well supported above 0.9750 against the Swiss Franc. USD/CHF is facing resistance near 0.9880 and a bearish trend line on the 4-hours chart.The US Consumer Confidence declined to 135.1 in August 2019, whereas the forecast was 129.5.The Swiss ZEW Expectations Index is likely to improve from -24 to -21 in August 2019. USD/CHF Technical ...
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GBP/USD Could Bounce Back, 1.2150 Holds Key

Key Highlights The British Pound climbed above 1.2200, but failed near 1.2300 against the US Dollar. GBP/USD may well find bids near 1.2180, 1.2150, and a bullish trend line on the 4-hours chart.The US Durable Goods Orders jumped 2.1% in July 2019, more than the +1.1% forecast.The US Consumer Confidence (CB) could decline from 135.7 to 129.5 in August 2019. GBP/USD Techn...
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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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