EUR/USD Likely To Follow Uptrend Above 1.1150

Key Highlights EUR/USD corrected lower after trading as high as 1.1239.A key bullish trend line is forming with support near 1.1130 on the 4-hours chart.The US ISM Manufacturing Index declined from 48.1 to 47.2 in Dec 2019.The Euro Zone Services PMI is likely to remain at 52.4 in Dec 2019. EUR/USD Technical Analysis This past week, EUR/USD traded above the 1.1200 resi...
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USD/JPY Breaks Key Support, More Losses Likely

Key Highlights USD/JPY was rejected near 109.70 and it declined below 109.00.The pair broke a broad range support near 108.50.The US Initial Jobless Claims for the week ending Dec 28, 2019 declined to 222K.The US ISM Manufacturing PMI could increase from 48.1 to 49.0 in Dec 2019. USD/JPY Technical Analysis After another rejection near 109.70, USD/JPY declined heavily ...
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Gold Price Rally Could Extend, Dips Supported

Key Highlights Gold price rallied recently above the $1,500 resistance against the US Dollar.A major bullish trend line is forming with support near $1,498 on the 4-hours chart of XAU/USD.EUR/USD and GBP/USD are showing positive signs above 1.1150 and 1.3120 respectively.The US Initial Jobless Claims for the week ending Dec 28, 2019 could rise from 222K to 227K. Gold Pri...
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GBP/USD Recovery Could Face Hurdles Near 1.3200

Key Highlights GBP/USD started a fresh increase from the 1.2904 low.There was a break above a bearish trend line with resistance near 1.2970 on the 4-hours chart.EUR/USD seems to be facing resistance near 1.1200 and 1.1220.The US Housing Price Index in Oct 2019 could increase 0.3% (MoM). GBP/USD Technical Analysis After a heavy decline, GBP/USD found support near the ...
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EUR/USD Gaining Bullish Momentum, Bulls Aiming 1.1250

Key Highlights EUR/USD found support near 1.1070 and rallied above 1.1150.A major bearish trend line was breached with resistance near 1.1110 on the 4-hours chart.GBP/USD is back above 1.3050 and it might consolidate in the near term.The US Pending Home Sales might increase 5.8% in Nov 2019 (YoY). EUR/USD Technical Analysis After a downside correction, EUR/USD found s...
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GBP/USD Nosedives, Risk of Additional Losses

Key Highlights GBP/USD declined heavily below the 1.3200 and 1.3000 support levels.There is a risk of more downsides below 1.2950 and 1.2920.EUR/USD is also showing bearish signs below 1.1120.The US Durable Goods Orders declined 2% in Nov 2019. GBP/USD Technical Analysis After a sharp rally, GBP/USD struggled to break the 1.3500 resistance. Later, the British Pound st...
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EUR/USD Could Resume Its Downtrend Below 1.1050

Key Highlights EUR/USD started following a bearish path from the 1.1200 resistance.GBP/USD failed to stay above the key 1.3200 support and declined towards 1.3000.The US GDP grew 2.1% in Q3 2019, similar to the market forecast.The US New Home Sales could decline 0.8% in Nov 2019 (MoM). EUR/USD Technical Analysis This past week, EUR/USD consolidated above the 1.1100 su...
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USD/JPY Facing Significant Resistance Ahead of US GDP

Key Highlights USD/JPY struggled again to surpass the 109.70 resistance area.The pair is showing bearish signs and it could correct below 109.20.The US Initial Jobless Claims for the week ending Dec 14, 2019 declined from 252K to 234K.The US GDP could grow 2.1% in Q3 2019, similar to the last reading. USD/JPY Technical Analysis This past week, there was a sharp increa...
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Gold Price Stuck Between Key Supports & Resistances

Key Highlights Gold price is struggling to gain momentum above $1,480 against the US Dollar.EUR/USD and GBP/USD are facing an increase in selling pressure.UK’s CPI increased 1.5%, while the Euro Zone CPI climbed 1% in Nov 2019 (YoY).The US Initial Jobless Claims for the week ending Dec 14, 2019 could decline from 252K to 225K. Gold Price Technical Analysis This mont...
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GBP/USD Remains In Uptrend Above 1.3200

Key Highlights This past week, GBP/USD rallied more than 400 pips to trade above 1.3500.It is currently correcting lower, but holding key supports above 1.3200.The UK Manufacturing PMI in Nov 2019 (Prelim) declined from 48.9 to 47.4.The UK Claimant count could change 20.2K in Nov 2019, less than the last 33.0K. GBP/USD Technical Analysis This past week, the British Po...
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