Crude Oil Price Could Struggle To Surpass $58.00

Key Highlights Crude oil price topped near $60.80 and declined sharply below $57.00 against the US dollar.A bearish trend is forming with resistance near $57.80 on the 4-hours chart of XTI/USD.The US Manufacturing PMI in July 2019 (Prelim) declined from 50.6 to 50.0.The US Durable Goods Orders in June 2019 could increase 0.7%, better than the last -1.3%. Crude Oil Price ...
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Gold Price Starts Downside Correction From $1,440

Key Highlights Gold price gained significantly above $1,400 and $1,420 against the US Dollar.A key bullish trend line is forming with support near $1,412 on the 4-hours chart of XAU/USD.The US New Home Sales in May 2019 declined 7.8% (MoM), whereas the forecast was +1.9%.The US Durable Goods Orders in May 2019 might increase 0.2%. Gold Price Technical Analysis After a...
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EUR/USD Could Move Higher Within Range

Key Highlights The Euro found support near 1.1100 after a strong decline against the US Dollar. EUR/USD traded above a major bearish trend line at 1.1165 on the 4-hours chart.On the upside, there are many hurdles near 1.1225 and 1.1260.The US Durable Goods Orders in April 2019 declined 2.1%, more than the -2.0% forecast. EURUSD Technical Analysis This past week, the E...
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USD/JPY Could Decline Further Below 109.50

Key Highlights The US Dollar failed to break 110.65 and declined recently against the Japanese Yen. A crucial bearish trend line is active with resistance at 110.50 on the 4-hours chart of USD/JPY.The US Initial Jobless Claims for the week ending May 18, 2019 declined from 212K to 211K.The US Durable Goods in April 2019 might decline 2%, down from the last +2.8%. USDJPY ...
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EUR/GBP Remains Supported On Dips Above 0.8600

Key Highlights The Euro struggled to break the 0.8680 resistance against the British Pound.EUR/GBP recently traded below a bullish trend line at 0.8660 on the 4-hours chart.The German IFO Business Climate Index declined to 99.2 in April 2019 from 99.6.The US Durable Goods Orders in March 2019 could increase 0.8%, whereas the last was -1.6%. EURGBP Technical Analysis T...
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EUR/GBP Could Resume Slide Below 0.8530

Key Highlights The Euro recovered recently, but failed to clear the 0.8650 resistance against the British Pound. A crucial bearish trend line is formed with resistance at 0.8620 on the 4-hour chart of EUR/GBP. The US Durable Goods Orders increased 0.4% in Jan 2019, better than the -0.5% forecast. The German CPI for Feb 2019 will be released today, which could incr...
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AUD/USD Rebound Reaching Crucial Juncture

Key Highlights The Aussie Dollar tested the 0.7000 support and rebounded nicely against the US Dollar. AUD/USD traded above a major bearish trend line at 0.7046 on the 4-hour chart. The US CPI in Feb 2019 increased 1.5% (YoY), less than the 1.6% forecast. The US Durable Goods Orders for Jan 2019 will be released today, which could decline 0.5% (MoM). AUDUSD Tec...
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AUD/USD Remains At Risk of More Declines

Key Highlights The Aussie Dollar started a downside move after it failed near 0.7150 against the US Dollar. There is a major bearish trend line in place with resistance at 0.7115 on the 4-hours chart of AUD/USD. The US Manufacturing PMI for Oct 2018 (Preliminary) increased from 55.6 to 55.9. Today, the Durable Goods Orders for Sep 2018 will be released, which is f...
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EUR/USD Remains In Downtrend Below 1.1750

Key Highlights The Euro failed to recover this past week and declined below 1.1700 against the US Dollar. There is a major bearish trend line in place with current resistance at 1.1710 on the 4-hours chart of EUR/USD. The pair remains at a risk of more losses if it fails to recover above 1.1700 and 1.1710. The US Durable Goods Orders in April 2018 declined 1.7%, m...
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USD/JPY Broke Key Uptrend Support at 110.00

Key Highlights The US Dollar started a downside correction from 111.37 and declined below 110.00 against the Japanese Yen. There was a break below a key bullish trend line with support at 110.05 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending May 19, 2018 rose from the last revised reading of 223K to 234K. Today in the US, the Du...
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