USD/CAD Is Likely To Extend Slides Toward 1.2960

Key Highlights The US Dollar faced a major resistance near 1.3170-80 against the Canadian Dollar and declined. There was a break below a key bullish trend line with support at 1.3090 on the 4-hours chart of USD/CAD. Recently, the Canadian Wholesales Sales for June 2018 declined 0.8% (MoM). Today, the Canadian Retail Sales for June 2018 will be released, which is f...
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Can GBP/USD Continue to Rebound Toward 1.2900?

Key Highlights The British Pound found support near the 1.2660 level and recovered nicely against the US Dollar. There was a break above a connecting bearish trend line at 1.2720 on the 4-hours chart of GBP/USD. Recently, the German PPI for July 2018 posted a 0.2% rise (MoM), less than the last +0.3%. Today, the UK CBI Industrial Trends Orders for August 2018 will...
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EUR/USD Rebound is Facing Tough Challenges

Key Highlights The Euro started an upward move after trading as low as 1.1301 against the US Dollar. There is a major bearish trend line in place with resistance near 1.1485 on the 4-hours chart of EUR/USD. The Euro Zone CPI in July 2018 decreased 0.3%, compared with the last 0.1% increase. The yearly change was 2.1%, similar to the last reading and forecast. E...
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USD/JPY Upsides Remain Capped Near 111.20

Key Highlights The US Dollar remains in a short-term downtrend below the 111.50 pivot level against the Japanese Yen. There is a declining channel forming with resistance near 111.20 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending August 11, 2018 declined from 214K to 212K. Today, the Euro Zone CPI figure for July 2018 will be re...
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GBP/USD Recovery Could Face Many Hurdles

Key Highlights The British Pound declined sharply below the 1.2950 support against the US Dollar. There are two bearish trend lines in place with resistance at 1.2820 and 1.3010 on the 4-hours chart of GBP/USD. The pair could correct higher, but it is likely to face sellers near 1.2800 and 1.2850. Today, the UK Claimant Count Change figure for June 2018 will be re...
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EUR/USD Tumbles Below 1.1400, 1.1300 Next?

Key Highlights The Euro fell sharply recently and broke the 1.1440 and 1.1400 support levels against the US Dollar. There is a major bearish trend line forming with resistance at 1.1500 on the 4-hours chart of EUR/USD. The US CPI in July 2018 increased 0.2% (MoM), similar to the forecast and more than the last +0.1%. The yearly change came in at +2.9%, less than t...
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USD/JPY Holding Important Support Above 110.50

Key Highlights The US Dollar found support near the 110.50-70 zone against the Japanese Yen. There is a crucial bearish trend line forming with resistance at 111.25 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending August 04, 2018 declined from 219K to 213K. The US Consumer Price Index for July 2018 will be released today, which is...
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Can Gold Price Break This Crucial Resistance?

Key Highlights Gold price corrected higher, but it faced a strong resistance near the $1,216 zone against the US Dollar. There is a significant bearish trend line formed with resistance near $1,212-1,215 on the 4-hours chart of XAU/USD. China’s CPI in July increased 0.3% (MoM), more than the forecast of +0.2%. The US Producer Price Index for July 2018 will be re...
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USD/CHF Likely To Correct Lower Towards 0.9900

Key Highlights The US Dollar failed to move above the 0.9980 resistance and declined against the Swiss Franc. There is a key bearish trend line forming with resistance at 0.9965 on the 4-hours chart of USD/CHF. The Swiss Foreign Currency Reserve increased to 750B from 749B in June 2018. Spain’s Industrial Output for June 2018 will be released today, which is for...
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GBP/USD Sets New Yearly Low, Settles Below 1.3000

Key Highlights The British Pound declined heavily and traded to a new yearly low below 1.2940 against the US Dollar. There is a major bearish trend line in place with resistance at 1.3085 on the 4-hours chart of GBP/USD. The Euro Zone Sentix Investor Confidence Index increased from 12.1 to 14.7 in August 2018. Today, the US IBD/TIPP Economic Optimism Index for Aug...
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