Gold Price Moves Further Into The Red Zone

Key Highlights Gold price is declining and it recently traded below $1,460 against the US Dollar.A key bearish trend line is forming with resistance near $1,462 on the 4-hours chart of XAU/USD.UK’s ILO Unemployment rate declined from 3.9% to 3.8% in Sep 2019 (3M).The US CPI could increase 1.7% in Oct 2019 (YoY), similar to the last reading. Gold Price Technical Analysi...
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AUD/USD Recovery Above 0.6780 Won’t Be Easy

Key Highlights The Aussie Dollar started an upside correction from the 0.6670 low against the US Dollar. AUD/USD surpassed a major bearish trend line at 0.6735 on the 4-hours chart.The US Wholesale Inventories increased 0.2% in August 2019, less than the +0.4% forecast. The US CPI might increase 0.1% in Sep 2019 (MoM), similar to the last reading. AUD/USD Technical Analy...
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USD/JPY Surging And Likely To Continue Higher

Key Highlights The US Dollar is in a positive zone and recently climbed above 108.00 against the Japanese Yen. A crucial bullish trend line is forming with support near 107.25 on the 4-hours chart of USD/JPY.The US CPI increased 0.1% in August 2019 (MoM), less than the last 0.3%.The US Retail Sales might rise 0.2% in August 2019, less than the last +0.7%. USD/JPY Technic...
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USD/CHF Primed For Further Upsides Above 0.9950

Key Highlights The US Dollar gained momentum above 0.9850 and broke 0.9900 against the Swiss Franc. USD/CHF remains supported near 0.9880 and a key bullish trend line on the 4-hours chart.The US PPI increased 1.8% in August 2019 (YoY), more than the 1.7% forecast.The US CPI could increase 0.1% in August 2019 (MoM), less than the last +0.3%. USD/CHF Technical Analysis ...
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Gold Price Hits New 6-Year High, Rally Seems Unstoppable

Key Highlights Gold price rallied above the $1,500 and $1,520 resistance levels against the US Dollar.A new 6-year high was formed above $1,530 before the price corrected lower.The US CPI increased 1.8% in July 2019 (YoY), more than the 1.7% forecast.The UK CPI might increase 1.9% in July 2019 (YoY), less than the last 2.0%. Gold Price Technical Analysis This month, g...
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GBP/USD Rebound Could Fail Near 1.2150 or 1.2200

Key Highlights The British Pound recovered from a new 2-year low at 1.2014 against the US Dollar. GBP/USD is likely to face a strong selling interest near 1.2150 or 1.2200.The UK Claimant count could change 22.8K in July 2019, less than the last 38.0K.EUR/USD remained well bid and supported above the 1.1150 area. GBP/USD Technical Analysis In the past few days, the Br...
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USD/JPY Showing Signs of Weakness Below 108.50

Key Highlights The US Dollar topped near 109.00 and recently declined against the Japanese Yen. USD/JPY traded below a major bullish trend line with support near 108.25 on the 4-hours chart.The US CPI in June 2019 increased 0.1% (MoM), whereas the market was expecting no change.The US Producer Price Index is likely to remain flat in June 2019 (MoM). USDJPY Technical Anal...
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USD/CHF Correcting Lower Before Fresh Increase

Key Highlights The US Dollar struggled to break the 0.9950 resistance against the Swiss Franc. There are many important supports for USD/CHF near 0.9860 and 0.9840.The US Wholesale Inventories increased 0.4% in May 2019, similar to the forecast.The US CPI in June 2019 might rise 0.2% (MoM), more than the last +0.1%. USDCHF Technical Analysis After a successful close a...
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Can Gold Price Continue Higher Heading Into FOMC Minutes?

Key Highlights Gold price started a solid rebound after trading as low as $1,280.80 against the US Dollar.There was a break above a crucial declining channel with resistance at $1,292 on the 4-hours chart of XAU/USD.The US NFIB Business Optimism Index increased from 101.7 to 101.8 in March 2018.The US Consumer Price Index in March 2019 could increase 0.3% (MoM), less than t...
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AUD/USD Rebound Reaching Crucial Juncture

Key Highlights The Aussie Dollar tested the 0.7000 support and rebounded nicely against the US Dollar. AUD/USD traded above a major bearish trend line at 0.7046 on the 4-hour chart. The US CPI in Feb 2019 increased 1.5% (YoY), less than the 1.6% forecast. The US Durable Goods Orders for Jan 2019 will be released today, which could decline 0.5% (MoM). AUDUSD Tec...
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