USD/JPY Could Decline Further Below 109.50

Key Highlights The US Dollar failed to break 110.65 and declined recently against the Japanese Yen. A crucial bearish trend line is active with resistance at 110.50 on the 4-hours chart of USD/JPY.The US Initial Jobless Claims for the week ending May 18, 2019 declined from 212K to 211K.The US Durable Goods in April 2019 might decline 2%, down from the last +2.8%. USDJPY ...
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GBP/USD In Significant Downtrend, Could Test 1.2650

Key Highlights The British Pound declined heavily and broke the key 1.2870 support against the US Dollar. GBP/USD traded below a crucial triangle support at 1.2995 to start a sharp decline.The Chicago Fed National Activity Index in April 2019 declined from 0.05 to -0.45.The US Existing Home Sales might increase 2.6% in April 2019 (MoM). GBPUSD Technical Analysis This ...
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EUR/USD Failed Near Key Resistance, Could Retest 1.1100

Key Highlights The Euro failed to clear a crucial resistance near 1.1260 against the US Dollar. EUR/USD traded below two bullish trend lines near 1.1200 on the 4-hours chart.The Euro Area CPI increased 1.7% in April 2019 (YoY), similar to the forecast and last reading.The German PPI in April 2019 (MoM) might increase 0.2%, whereas the last was -0.1%. EURUSD Technical Ana...
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USD/JPY Starts Fresh Rebound, Could Test 110.40

Key Highlights The US Dollar found support near 109.02 after a strong decline against the Japanese Yen.USD/JPY recovered after it traded above a contracting triangle with resistance at 109.58 on the 4-hours chart.The US Initial Jobless Claims for the week ending May 11, 2019 declined from 228K to 212K.The Michigan Consumer Sentiment Index in May 2019 (Prelim) could rise fro...
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NZD/USD Could Accelerate Decline Below 0.6540

Key Highlights The New Zealand Dollar is in a strong downtrend below 0.6600 against the US Dollar.A major bearish trend line is forming with resistance at 0.6580 on the 4-hours chart of NZD/USD.The US Retail Sales in April 2019 declined 0.2% (MoM), whereas the forecast was +0.2%.The US Initial Jobless Claims for the week ending May 11, 2019 may slide from 228K to 220K. N...
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Gold Price Turns Positive Above $1,290, Could Test $1,310

Key Highlights Gold price started a fresh increase above $1,285 and $1,290 resistances against the US Dollar.A key bullish trend line is forming with support at $1,290 on the 4-hours chart of XAU/USD.The US Import Price Index advanced 0.2% in April 2019 (MoM), less than the +0.7% forecast.The US Retail Sales in April 2019 could increase 0.2% (MoM), less than the last +1.6%....
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GBP/USD Trading Near Make-or-Break Support

Key Highlights The British Pound declined recently below the 1.3050 support against the US Dollar.A key bullish trend line is forming with support at 1.2948 on the 4-hours chart of GBP/USD.There are many resistances on the upside near 1.2975, 1.3020, 1.3050 and 1.3060.The UK Claimant Count in April 2019 could change 24.2K, less than the last 28.3K. GBPUSD Technical Analy...
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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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AUD/USD Positioned In Downtrend Below 0.7050

Key Highlights The Aussie Dollar declined recently below the 0.7070 and 0.7040 supports against the US Dollar.A key bearish trend line is formed with resistance near 0.7030 on the 4-hours chart of AUD/USD.China’s Trade Balance posted a surplus of $13.84B, well below the $35.00B forecast.The US PPI in April 2019 could rise 0.2% (MoM), less than the last +0.6%. AUDUSD Te...
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Crude Oil Price Remains At Risk of More Losses

Key Highlights Crude oil price started a downward move after it broke the $63.40 support against the US dollar.There is a key bearish trend line formed with resistance at $61.85 on the 4-hours chart of XTI/USD.The IBD/TIPP Economic Optimism Index increased from 54.2 to 58.6 in May 2019.The EIA Crude Oil Stockpiles figure is likely to change by 0.744M, compared with the last...
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