USD/JPY Breakdown Looks Like The Real Deal

Key Highlights The US Dollar declined heavily after it broke the 108.60 support against the Japanese Yen. A short term bearish trend line is forming with resistance near 106.40 on the 4-hours chart of USD/JPY.The US Initial Jobless Claims in the week ending August 03, 2019 declined from 217K to 209K.The US PPI in July 2019 might increase 0.2% (MoM), more than the last +0.1%...
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NZD/USD Nosedives Below 0.6500 Post RBNZ Rate Cut

Key Highlights The New Zealand Dollar declined heavily below the 0.6500 support against the US Dollar. Two bearish trend lines are forming with resistance near 0.6535 on the 4-hours chart of NZD/USD.The Reserve Bank of New Zealand reduced the official cash rate (OCR) from 1.5% to 1.0%.The US Initial Jobless Claims for the week ending August 03, 2019 might remain stable at 2...
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Crude Oil Price Recovery Won’t Be Easy

Key Highlights Crude oil price declined below the key $56.00 support area against the US dollar.A crucial bearish trend is forming with resistance near $57.50 on the 4-hours chart of XTI/USD.The IBD/TIPP Economic Optimism declined from 56.6 to 55.1 in August 2019.The EIA crude oil stocks (weekly measure) could change -3.313M (previous - -8.496M). Crude Oil Price Technica...
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GBP/USD In Downtrend As Long As Below 1.2250

Key Highlights The British Pound started an upside correction above 1.2100 against the US Dollar. A declining channel is forming with resistance near 1.2205 on the 4-hours chart of GBP/USD.The UK Services PMI in July 2019 increased from 50.2 to 51.4.The US IBD/TIPP Economic Optimism Index in August 2019 might decline from 56.6 to 54.6. GBPUSD Technical Analysis This p...
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EUR/USD Recovery Facing Many Key Hurdles

Key Highlights The Euro started an upside correction from the 1.1027 swing low against the US Dollar. A major bearish trend line is forming with resistance near 1.1135 on the 4-hours chart of EUR/USD.The US nonfarm payrolls in July came in at 164K, down from the last revised 193K.The US ISM Non-Manufacturing Index in July 2019 could increase from 55.1 to 55.5. EURUSD Tec...
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USD/JPY Nosedives Below 107.50, US NFP Next

Key Highlights The US Dollar retreated sharply from the 2-month high at 109.31 against the Japanese Yen. Recently, USD/JPY traded below a major bullish trend line with support near 108.75 on the 4-hours chart.The US ISM Manufacturing Index in July 2019 declined from 51.7 to 51.2.The US nonfarm payrolls in July 2019 could increase 164K, less than the last 224K. USDJPY Tec...
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EUR/GBP Correcting Recent Rally, Fed Cuts Interest Rates

Key Highlights The Euro surged higher this week and broke the 0.9150 resistance against the British Pound. EUR/GBP broke a crucial bearish trend line at 0.8970 on the 4-hours chart to start uptrend.The Euro Area GDP grew 1.1% in Q2 2019 (Prelim) (YoY), more than the 1.0% forecast.The Fed lowered interest rates from 2.50% to 2.25%, in line with the market forecast.The BoE In...
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Gold Price Remains In Strong Uptrend Above $1,400

Key Highlights Gold price started a downside correction from the $1,450 resistance against the US Dollar.A crucial bullish trend line is forming with support near $1,418 on the 4-hours chart of XAU/USD.The US Personal Income in June 2019 increased 0.4% (MoM), similar to the forecast.The US ADP Employment could change by 150K in July 2019, more than the last 102K. Gold Pr...
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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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