Gold Price Approaching Key Resistance Near $1,210

Key Highlights Gold price recovered sharply and moved back above the $1,200 support against the US Dollar. There was a break above a bearish trend line with resistance at $1,197 on the 4-hours chart of XAU/USD. The UK Construction PMI in Sep 2018 declined from 52.9 to 52.1. The US ADP Employment figure for Sep 2018 will be released today, which is likely to increa...
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GBP/USD Testing Key Support Near 1.3000

Key Highlights The British Pound started a downside move from 1.3280 and declined towards 1.3000 against the US Dollar. There is a declining channel formed with resistance at 1.3100 on the 4-hours chart of GBP/USD. The US ISM Manufacturing Index for Sep 2018 declined from 61.3 to 59.8. Today, the US ISM NY index - Business Conditions Index for Sep 2018 will be rel...
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EUR/USD Back to Square One, Bears In Control

Key Highlights The Euro trimmed most of its gains and declined below the 1.1650 support against the US Dollar. There was a break below a crucial bullish trend line with support at 1.1730 on the 4-hours chart of EUR/USD. The US Personal Income in August 2018 increased 0.3%, less than the forecast of +0.4% (MoM). Today, the US ISM Manufacturing Index for Sep 2018 wi...
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USD/JPY Surges Above 113.00, Remains in Uptrend

Key Highlights The US Dollar made a nice upside move and traded above the 113.00 resistance against the Japanese Yen. There was a break above a major ascending channel with resistance at 113.20 on the 4-hours chart of USD/JPY. Tokyo’s CPI in Sep 2018 increased 1.3% (YoY), more than the forecast of 1.1%. Today, the US Personal Income for August 2018 will be relea...
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Crude Oil Price Remains in Uptrend Above $71.30

Key Highlights Crude oil price is trading with a bullish bias above the $71.00 support against the US dollar. There is a key ascending channel in place with support at $71.40 on the 4-hours chart of XTI/USD. The Fed increased interest rates from 2.00% to 2.25%. The US GDP for Q2 2018 will be released today, which is forecasted to grow 4.2%. Crude Oil Price Tech...
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AUD/USD Could Trade Higher Above 0.7300

Key Highlights The Aussie Dollar started a decent upward move from the 0.7144 low against the US Dollar. There was a break above a major bearish trend line with resistance at 0.7198 on the 4-hours chart of AUD/USD. The US S&P/Case-Shiller Home Price Indices increased 5.9%, less than the forecast of 6.2%. Today, the Fed interest rate decision is scheduled and t...
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GBP/USD Holding Key Supports Above 1.3080

Key Highlights The British Pound corrected lower and found support near 1.3060 against the US Dollar. During the correction, there was a break below a bullish trend line at 1.3170 on the 4-hours chart of GBP/USD. The Chicago Fed National Activity Index (CFNAI) in August remained at 0.18. Today, the US Housing Price Index for July 2018 will be released, which is fo...
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EUR/USD Remains Supported Near 1.1700

Key Highlights The Euro made a nice upside move and traded above 1.1700 level against the US Dollar. There is a key bullish trend line in place with support near 1.1700 on the 4-hours chart of EUR/USD. The US Services PMI in Sep 2018 (Prelim) declined from 54.8 to 52.6. Today, the Chicago Fed National Activity Index (CFNAI) for August 2018 will be released, which ...
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USD/JPY Is Likely To Continue Higher Above 112.00

Key Highlights The US Dollar recovered nicely after testing the 110.00 support against the Japanese Yen. There are two key bullish trend lines in place with support near 110.80 on the daily chart of USD/JPY. The US Consumer Price Index in August 2018 increased 0.2%, compared with the +0.3% forecast. Today, the US Retail Sales for August 2018 will be released, whic...
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NZD/USD Recovery Faces Resistance Near 0.6570

Key Highlights The New Zealand Dollar declined recently and traded towards 0.6500 against the US Dollar. There is a major bearish trend line formed with resistance at 0.6560 on the 4-hour chart of NZD/USD. The US Producer Price Index in August 2018 declined 0.1%, compared with the +0.2% forecast. Today, the US Consumer Price Index for August 2018 will be released,...
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