USD/JPY Looks Set to Trade Higher

Key Highlights The US Dollar formed a major support at 104.60 and recovered nicely against the Japanese Yen. There was a break above a significant bearish trend line with resistance at 106.35 on the daily chart of USD/JPY. The US Initial Jobless Claims in the week ending April 7th, 2018 declined from 242K to 233K. Today, the Michigan Consumer Sentiment Index for A...
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Gold Price Remains Supported Above $1,328

Key Highlights Gold price found support near the $1,320 level and recovered recently against the US Dollar. There are two bullish trend lines forming with support near $1,328 on the 4-hours chart of XAU/USD. The US PPI in March 2018 posted a rise of 3% (YoY), more than the forecast of 2.9%. Today, the US CPI report for March 2018 will be released, which is forecas...
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GBP/USD: Cable Could Retest 1.4200?

Key Highlights The British Pound found a strong support at 1.3965 and recovered against the US Dollar. There was a break above a bearish trend line with resistance at 1.4080 on the 4-hours chart of GBP/USD. The UK Halifax House Price Index in March 2018 increased 1.5% (MoM), more than the forecast of 0.2%. The UK British Retail Consortium (BRC) Like-For-Like Retai...
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Can EUR/USD Recover Post Disappointing US NFP?

Key Highlights The Euro formed a decent support above the 1.2200 level against the US Dollar. The EUR/USD pair attempted a close above a bearish trend line with resistance at 1.2270 on the 4-hours chart. The US Nonfarm Payrolls for March 2018 posted 103K, less than the forecast of 193K. Today, the German Trade Balance for Feb 2018 will be released, which is foreca...
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USD/JPY Poised for Further Gains, NFP Next

Key Highlights The US Dollar made a nice upside move and traded above the 106.50 resistance against the Japanese Yen. There was a break above a crucial bearish trend line with resistance at 106.70 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending March 31, 2018 increased from 218K (revised) to 242K. Today, the US Nonfarm Payrolls r...
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GBP/USD Turned Bearish Below 1.4100?

Key Highlights The British Pound traded lower recently and broke the 1.4100 support against the US Dollar. There was a break below a major bullish trend line with support at 1.4060 on the 4-hours chart of GBP/USD. The US ADP Employment Change in March 2018 posted a rise of 241K, more than the forecast of 205K. Today, the UK Services PMI for March 2018 will be rele...
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EUR/USD Holding Crucial Support Near 1.2280

Key Highlights The Euro traded lower recently towards an important support at 1.2280 against the US Dollar. There is a major bullish trend line forming with support at 1.2285 on the 4-hours chart of EUR/USD. The pair must hold the stated 1.2280 support to start a fresh upward wave. Today, the US Manufacturing PMI for March 2018 will be released, which is forecaste...
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USD/JPY Upsides Remain Capped Near 106.50

Key Highlights The US Dollar remains in a major bearish trend below 107.50 against the Japanese Yen. There is a key bearish trend line forming with current resistance at 106.50 on the daily chart of USD/JPY. The pair has to move above 106.50 and then 107.50 to move back in a bullish zone. Tokyo’s Consumer Price Index in March 2018 (YoY) increased 1.0%, compared ...
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GBP/USD Remains Supported Ahead of US GDP

Key Highlights The British Pound formed a short-term top at 1.4244 and declined against the US Dollar. There is a crucial bullish trend line forming with support at 1.4020 on the 4-hours chart of GBP/USD. The S&P/Case-Shiller Home Price Indices in Jan 2018 increased 6.4%, more than the forecast of +6.2% . Today, the US GDP report for Q4 2017 will be released, ...
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Gold Price Back in Bullish Zone above $1,340

Key Highlights Gold price made a nice upside move and traded above the $1,330 and $1,340 resistances against the US Dollar. There was a break above a crucial contracting triangle with resistance at $1,318 on the 4-hours chart of XAU/USD. The Chicago Fed National Activity Index (CFNAI) posted a rise from 0.02 (revised) to 0.88 in Feb 2018. Today, the S&P/Case-S...
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