EUR/USD Sighting Larger Recovery Above 1.1280

Key Highlights The Euro found support near 1.1175 and corrected higher against the US Dollar.A major bullish trend line is forming with support at 1.1195 on the 4-hours chart of EUR/USD.The US CPI in April 2019 increased 2.0% (YoY), less than the +2.1% forecast.Canada’s unemployment rate declined from 5.8% to 5.7% in April 2019. EURUSD Technical Analysis After tradi...
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USD/JPY Daily Chart Suggests Crucial Downside Break

Key Highlights The US Dollar declined sharply after it was rejected above 112.00 against the Japanese Yen.USD/JPY traded below a crucial bullish trend line with support at 111.05 on the daily chart.The US PPI in April 2019 increased 2.2% (YoY), less than the +2.3% forecast.The US CPI in April 2019 could rise 2.1% (YoY), up from than the last +1.9%. USDJPY Technical Analy...
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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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GBP/USD Upside Break Above 1.3100 Looks Real

Key Highlights The British Pound rallied recently after trading as low as 1.2960 against the US Dollar. A crucial bearish trend line was breached with resistance at 1.3120 on the 4-hours chart of GBP/USD. The US Retail Sales in Jan 2019 increased 0.2% (MoM), compared with the last decline of 1.6%. The US Consumer Price Index for Feb 2019 will be released today, wh...
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Gold Price Preparing For Next Crucial Break

Key Highlights Gold price tested the $1,300 support area and later started consolidation against the US Dollar. There is a breakout pattern formed with resistance at $1,314 on the 4-hours chart of XAU/USD. The US CPI posted no change in Jan 2019 (MoM), whereas the market was looking for a 0.1% rise. The US Retail Sales for Dec 2018 will be released today, which co...
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AUD/USD Remains At Risk Of More Declines

Key Highlights The Aussie Dollar declined heavily after it failed to surpass the 0.7300 resistance against the US Dollar. There was a break below a crucial triangle support at 0.7210 on the 4-hours chart of AUD/USD. The NFIB Business Optimism Index in Jan 2019 declined from 104.4 to 101.2. Today in the US, the CPI figure for Jan 2019 will be released, which could ...
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EUR/USD Remains Supported Above 1.1420

Key Highlights The Euro traded towards 1.1570 and later corrected lower against the US Dollar. There was a break below a major bullish trend line with support at 1.1510 on the 4-hours chart of EUR/USD. The US CPI in Dec 2018 declined 0.1% (MoM), similar to the market forecast. The Euro Area Industrial Production for Nov 2018 will be released today, which could dec...
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USD/JPY Facing Significant Hurdles Near 108.80

Key Highlights The US Dollar recovered recently and moved above 107.20 against the Japanese Yen. There is a crucial bearish trend line formed with resistance at 108.45 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending Jan 05, 2018 declined from 233K (revised) to 216K. The US Consumer Price Index for Dec 2018 will be released today,...
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GBP/JPY Could Struggle To Surpass 143.50

Key Highlights The British Pound fell significantly and tested the 141.00 support area against the Japanese Yen. There are two key bearish trend lines formed with resistance near 143.40-50 on the 4-hours chart of GBP/JPY. The UK Claimant Count in Nov 2018 changed 21.9K, more than the 13.2K forecast. Today, the US Consumer Price Index for Nov 2018 will be released,...
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