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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GBP/USD Rebound Could Face Hurdles

Key Highlights The British Pound declined heavily and broke the 1.3040 support area against the US Dollar. Two bearish trend lines formed with resistance at 1.2970 and 1.3025 on the 4-hours chart of GBP/USD. The UK Manufacturing Production in Dec 2018 declined 0.7% (MoM), compared with the +0.1% forecast. Today in the US, the NFIB Business Optimism Index for Jan 2...
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EUR/USD at Clear Risk of Further Declines

Key Highlights The Euro formed a significant top at 1.1514 and declined heavily against the US Dollar. EUR/USD broke a few important supports such as 1.1440 and 1.1400. The German Trade Balance in Dec 2018 posted a surplus of €19.4B, better than the €18.4B forecast. UK GDP for Q4 2016 (Preliminary) will be released today, which could grow 0.2% (QoQ). EURUSD...
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USD/JPY Hesitates, But Further Gains Likely

Key Highlights The US Dollar climbed higher recently, but it failed near the 110.15 resistance against the Japanese Yen. Earlier, there was a break above a bearish trend line at 109.60 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending Feb 02, 2019 declined from 253K to 234K. Canada’s Employment Figure for Jan 2019 will be release...
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AUD/USD Signaling Bearish Continuation Below 0.7150

Key Highlights The Aussie Dollar declined recently and broke the 0.7200 support against the US Dollar. There was a break below a major contracting triangle with support at 0.7208 on the 4-hours chart of AUD/USD. The US Trade Balance in Nov 2018 posted a deficit of $-49.3B, less than the $-54.0B forecast. The US Initial Jobless Claims for the week ending Feb 02, 20...
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Gold Price In Significant Uptrend Above $1,300

Key Highlights Gold price rallied and broke the $1,300 resistance before correcting lower against the US Dollar. There is a short term bearish trend line formed with resistance at $1,318 on the 4-hours chart of XAU/USD. The US Services PMI in Jan 2019 declined from 54.4 to 54.2. The US Trade Balance for Nov 2018 will be released today, which could post a deficit o...
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GBP/USD Correcting Lower Towards Key Support

Key Highlights The British Pound started a major downside correction from the 1.3217 high against the US Dollar. There is a key declining channel formed with resistance at 1.3120 on the 4-hours chart of GBP/USD. The UK Construction PMI in Jan 2019 declined from 52.8 to 50.6. The UK Services PMI for Jan 2019 will be released today, which could decline from 51.2 to ...
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EUR/USD Consolidating Above Crucial Support Post NFP

Key Highlights The Euro started a downside correction after trading above 1.1500 against the US Dollar. There is a significant support formed near the 1.1420 level on the 4-hours chart of EUR/USD. The US Nonfarm Payrolls in Jan 2019 came in at 304K, much better than the 165K forecast. The US Factory Orders figure for Nov 2018 will be released today, which could in...
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USD/JPY Forms Key Top Ahead of US NFP

Key Highlights The US Dollar failed to break the 110.00 resistance and declined against the Japanese Yen. There is a major bearish trend line formed with resistance near 109.40 on the daily chart of USD/JPY. The US Initial Jobless Claims for the week ending Jan 26, 2019 increased from 200K to 253K. The US Nonfarm Payrolls figure for Jan 2019 will be released today...
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