USD/JPY In Significant Uptrend Above 111.00

Key Highlights The US Dollar climbed higher and broke the 111.00 resistance against the Japanese Yen. There is a crucial bullish trend line in place with support at 110.60 on the 4-hours chart of USD/JPY. The US GDP in Q4 2019 grew 2.6% (Prelim), better than the forecast 2.3% forecast. The US ISM Manufacturing Index for Feb 2019 will be released today, which could...
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USD/CAD In Strong Downtrend Below 1.3200

Key Highlights The US Dollar declined heavily and settled below 1.3200 against the Canadian Dollar. There is a crucial declining channel in place with resistance at 1.3200 on the 4-hours chart of USD/CAD. Canada’s CPI increased 0.1% (MoM) in Jan 2019, less than the 0.2% forecast. The US Gross Domestic Product for Q4 2018 (Preliminary) will be released today, whi...
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EUR/USD Decline Could Extend Below 1.1350

Key Highlights The Euro faced a strong barrier near 1.1480 and declined recently against the US Dollar. EUR/USD faced a strong resistance trend line at 1.1485 on the 4-hour chart. The US GDP in Q3 2018 increased 3.4%, less than the forecast of 3.5%. Today in the US, the Chicago Fed National Activity Index for Nov 2018 will be released, and it could decline from 0....
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USD/JPY Nosedives Below 112.00, US GDP Next

Key Highlights The US Dollar declined heavily and broke the 112.00 support against the Japanese Yen. USD/JPY failed to break the 113.80-114.00 resistance zone and declined sharply. The US Initial Jobless Claims for the week ending Dec 15, 2018 increased from 206K to 214K. Today, the US Gross Domestic Product for Q3 2018 will be released, which is forecasted to gro...
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NZD/USD Remains Supported Ahead of FOMC

Key Highlights The New Zealand Dollar traded towards 0.6880 and later corrected lower against the US Dollar. Earlier, there was a break below a key bullish trend line with support at 0.6810 on the 4-hours chart of NZD/USD. The US GDP in Q3 2018 (Prelim) grew 3.5%, similar to the market forecast. Today in the US, the FOMC Meeting Minutes will be released, which cou...
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Gold Price Facing Many Hurdles Near $1,235

Key Highlights Gold price failed to surpass the $1,236 and $1,239 resistances and declined against the US Dollar. There is a key bearish trend line formed with resistance at $1,232 on the 4-hours chart of XAU/USD. The US Housing Price Index in Sep 2018 increased 0.2% (MoM), less than the +0.4% forecast. Today, the US Gross Domestic Product for Q3 2018 (Preliminary...
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EUR/USD Turned Bearish Below 1.1500

Key Highlights The Euro declined further and traded towards 1.1340 against the US Dollar. There is a major bearish trend line formed with resistance at 1.1460 on the 4-hours chart of EUR/USD. The US Gross Domestic Product for Q3 2018 (Preliminary) increased 3.5%, better than the 3.3% forecast. Today, the US Personal Income for Sep 2018 (MoM) will be released, whic...
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USD/JPY Holding Key Uptrend Support Ahead of US GDP

Key Highlights The US Dollar started a downside correction after trading as high as 114.53 against the Japanese Yen. There is a crucial bullish trend line formed with support at 111.90 on the daily chart of USD/JPY. The US Durable Goods Orders in Sep 2018 increased 0.8%, better than the -0.9% forecast. Today, the US Gross Domestic Product for Q3 2018 (Preliminary)...
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AUD/USD Facing Significant Resistance Near 0.7350

Key Highlights The Australian Dollar was recently rejected near the 0.7350-60 resistance against the US Dollar. There is a crucial bearish trend line formed with resistance at 0.7335 on the 4-hour chart of AUD/USD. The US GDP in Q2 2018 (Prelim) grew 4.2%, more than the forecast of 4.0%. Today, the US Personal Income for July 2018 will be released, which is foreca...
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Gold Price Gaining Momentum Above $1,200, US GDP Next

Key Highlights Gold price climbed higher recently and broke the $1,200 and $1,205 resistances against the US Dollar. There was a break above a major bearish trend line with resistance near $1,198 on the 4-hours chart of XAU/USD. The US Wholesale Inventories in July 2018 (Preliminary) increased 0.7%, more than the +0.1% forecast. The US Gross Domestic Product for Q...
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