Crude Oil Price Holding Key Uptrend Supports

Key Highlights Crude oil price found support near $55.00 and bounced back against the US dollar.Earlier, there was a break below a major bullish trend line with support near $55.80 on the 4-hours chart of XTI/USD.Canada’s CPI increased 0.3% in Oct 2019 (MoM), similar to the market forecast.The US Existing Home Sales could rise 1.4% in Oct 2019 (MoM). Crude Oil Price Te...
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GBP/USD Following Massive Uptrend, Brexit Deadline Looms

Key Highlights In the past few days, GBP/USD rallied above the 1.2750 and 1.2950 resistance levels.A crucial ascending channel is forming with support at 1.2940 on the 4-hours chart.The People´s Bank of China kept the interest rate at 4.2%.The US Existing Home Sales could decline 0.7% in Sep 2019 (MoM), whereas the last was +1.3%. GBP/USD Technical Analysis This past...
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AUD/USD Could Recover Sharply If It Breaks 0.6820

Key Highlights Recently, the Aussie Dollar corrected higher from 0.6676 (multi-year low) against the US Dollar. AUD/USD traded above a key bearish trend line at 0.6780 on the 4-hours chart.EUR/USD and GBP/USD remain in a bearish zone below key resistances.The US Existing Home Sales is likely to increase 2.5% in July 2019 (MoM). AUD/USD Technical Analysis Earlier this ...
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GBP/USD In Significant Downtrend, Could Test 1.2650

Key Highlights The British Pound declined heavily and broke the key 1.2870 support against the US Dollar. GBP/USD traded below a crucial triangle support at 1.2995 to start a sharp decline.The Chicago Fed National Activity Index in April 2019 declined from 0.05 to -0.45.The US Existing Home Sales might increase 2.6% in April 2019 (MoM). GBPUSD Technical Analysis This ...
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Can GBP/USD Bounce Back In Near Term?

Key Highlights The British Pound declined steadily recently below the 1.3080 support against the US Dollar.GBP/USD traded below a major bullish trend line with support at 1.3070 on the daily chart.The US Existing Home Sales in March 2019 declined 4.9% (MoM), more than the -2.3% forecast.The US Housing Price Index in Feb 2019 could rise 0.3% (MoM), less than the last +0.6%. ...
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EUR/USD Showing Signs of Weakness Below 1.1300

Key Highlights The Euro failed to break the 1.1325 resistance and declined sharply against the US Dollar.EUR/USD traded below a crucial bullish trend line with support at 1.1290 on the 4-hours chart.The US Housing Starts in March 2019 decreased 0.3% (MoM), whereas the forecast was +6.5%.The US Existing Home Sales in March 2019 could dip 2.3% (MoM), whereas the last was +11....
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AUD/USD Could Extend Downside Correction To 0.7050

Key Highlights The Aussie Dollar started a downside correction after trading as high as 0.7235 against the US Dollar. There was a break below a key contracting triangle with support at 0.7155 on the 4-hours chart of AUD/USD. The US Existing Home Sales declined 6.4% in Dec 2018 (MoM). The Euro Zone Consumer Confidence for Jan 2019 (Prelim) will be released today, w...
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EUR/USD in Slow and Steady Uptrend

Key Highlights The Euro found a strong support near 1.1580 and recovered against the US Dollar. There is a key bullish trend line in place with support at 1.1600 on the 4-hours chart of EUR/USD. The pair is placed nicely above the 1.1650 support and the 100 SMA (red, 4-hour). The US Existing Home Sales for June 2018 will be released today, which is forecasted to i...
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Gold Price Broke Key Support, Turned Bearish

Key Highlights Gold price failed to hold a major support near $1,285 and declined against the US Dollar. There was a break below a major bullish trend line with support at $1,296 on the 4-hours chart of XAU/USD. The US Housing Starts in May 2018 increased 5%, more than the forecast of +1.4%. Today, the US Existing Home Sales figure for May 2018 will be released, w...
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Gold Price Broke Key Supports Near $1,335

Key Highlights Gold price started a downside move from the $1,355 level against the US Dollar. There was a break below two bullish trend lines at $1,345 and $1,335 on the 4-hours chart of XAU/USD. The US Existing Home sales in March 2018 grew 1.1%, more than the +0.2% forecast. Today, the US New Home Sales report for March 2018 will be released, which is forecaste...
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