GBP/USD Nosedives To New 2-Year Low Below 1.2200

Key Highlights The British Pound declined heavily and traded to a new 2-year low against the US Dollar. GBP/USD struggled to break a crucial bearish trend line with current resistance near 1.2440 on the 4-hours chart.UK’s Consumer Credit in June 2019 came in at £1.046B, up from the last revised £0.906B.The US Personal Income in June 2019 could increase 0.4% (MoM), less ...
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EUR/USD Remains In Significant Downtrend

Key Highlights The Euro failed to hold the 1.1200 support and declined heavily against the US Dollar. A major bearish trend line is forming with resistance near 1.1215 on the 4-hours chart of EUR/USD.The US Gross Domestic Product grew 2.1% in Q2 2019 (Prelim), more than the 1.8% forecast.The Spanish CPI in July 2019 (Prelim) could increase 0.4% (YoY), similar to the last ch...
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USD/JPY Eyeing More Upsides Above 109.00

Key Highlights The US Dollar climbed higher recently from the 108.00 support against the Japanese Yen. USD/JPY traded above a key bearish trend line at 108.15 on the 4-hours chart.The US Initial Jobless Claims for the week ending July 20, 2019 declined from 216K to 206K.The US Gross Domestic Product in Q2 2019 (Prelim) might grow 1.8%, less than the last +3.1%. USDJPY Te...
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Crude Oil Price Could Struggle To Surpass $58.00

Key Highlights Crude oil price topped near $60.80 and declined sharply below $57.00 against the US dollar.A bearish trend is forming with resistance near $57.80 on the 4-hours chart of XTI/USD.The US Manufacturing PMI in July 2019 (Prelim) declined from 50.6 to 50.0.The US Durable Goods Orders in June 2019 could increase 0.7%, better than the last -1.3%. Crude Oil Price ...
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AUD/USD Likely To Remain Supported On Dips

Key Highlights The Aussie Dollar started a downside correction from 0.7080 against the US Dollar. AUD/USD is likely to find strong bids near 0.6970 or 0.6950 in the near term.The Housing Price Index in May 2019 increased 0.1% (MoM), less than the +0.3% forecast.The US Manufacturing PMI in July 2019 (Preliminary) could rise from 50.6 to 51.0. AUDUSD Technical Analysis ...
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GBP/USD Facing Key Resistance Near 1.2550

Key Highlights The British Pound struggled to gain momentum above 1.2550 against the US Dollar. GBP/USD is struggling to trade above a key bearish trend line near 1.2515 on the 4-hours.The Chicago Fed National Activity Index (CFNAI) increased from -0.03 to -0.02 in June 2019.The US Housing Price Index in May 2019 could rise 0.3% (MoM), less than the last +0.4%. GBPUSD Te...
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EUR/USD Remains At Risk Of More Downsides

Key Highlights The Euro failed to break the key 1.1280 resistance and declined against the US Dollar. A major bearish trend line is forming with resistance near 1.1280 on the 4-hours of EUR/USD.The Michigan Consumer Sentiment Index in July 2019 (Prelim) increased from 98.2 to 98.4.The Chicago Fed National Activity Index in June 2019 might increase from -0.05 to 0.10. EUR...
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USD/JPY Could Retest 107.00 Before Fresh Increase

Key Highlights The US Dollar struggled near 109.00 and declined below 108.00 against the Japanese Yen. USD/JPY traded below a major bullish trend line with support at 108.05 on the 4-hours.The US Initial Jobless Claims for the week ending July 13, 2019 increased from 208K to 216K.The Michigan Consumer Sentiment Index in July 2019 (Prelim) might increase from 98.2 to 98.5. ...
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Crude Oil Price Correcting Gains But Remains Supported

Key Highlights Crude oil price struggled two times to clear the $60.85 resistance against the US dollar.There was a break below a major bullish trend line at $58.70 on the 4-hours chart of XTI/USD.Canada’s CPI declined 0.2% in June 2019 (MoM), similar to the forecast.The US Initial Jobless Claims for the week ending July 13, 2019 might increase from 209K to 216K. Crude...
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GBP/USD Recovery Approaching Key Juncture

Key Highlights The British Pound recovered recently after trading as low as 1.2439 against the US Dollar. GBP/USD is now struggling below the 1.2580 resistance and a bearish trend line on the 4-hours.The NY Empire State Manufacturing Index increased from -8.6 to 4.3 in July 2019.The UK Claimant count in June 2019 could change by 18.9K, less than the last 23.2K. GBPUSD Te...
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