EUR/USD Could Resume Its Downtrend Below 1.1050

Key Highlights EUR/USD started following a bearish path from the 1.1200 resistance.GBP/USD failed to stay above the key 1.3200 support and declined towards 1.3000.The US GDP grew 2.1% in Q3 2019, similar to the market forecast.The US New Home Sales could decline 0.8% in Nov 2019 (MoM). EUR/USD Technical Analysis This past week, EUR/USD consolidated above the 1.1100 su...
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USD/JPY Facing Significant Resistance Ahead of US GDP

Key Highlights USD/JPY struggled again to surpass the 109.70 resistance area.The pair is showing bearish signs and it could correct below 109.20.The US Initial Jobless Claims for the week ending Dec 14, 2019 declined from 252K to 234K.The US GDP could grow 2.1% in Q3 2019, similar to the last reading. USD/JPY Technical Analysis This past week, there was a sharp increa...
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Gold Price Trading Near Make-or-Break Levels

Key Highlights Gold price seems to be struggling to hold the $1,450 support area against the US Dollar.A major bearish trend line is forming with resistance near $1,463 on the 4-hours chart of XAU/USD.The US Goods Trade deficit was $-66.53 B in Oct 2019, down from the last $-70.55 B.The US GDP is likely to grow 1.9% in Q3 2019 (Preliminary). Gold Price Technical Analysis...
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USD/CHF Could Target Additional Weakness

Key Highlights The US Dollar started a fresh decline from 0.9970 against the Swiss Franc.A crucial bearish trend line is forming with resistance near 0.9940 on the 4-hours chart of USD/CHF.The US GDP grew 1.9% in Q3 2019 (Prelim), more than the market forecast of 1.6%.The US Personal Income could rise 0.4% in Sep 2019 (MoM), more than the last +0.2%. USD/CHF Technical An...
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Gold Price Showing Bearish Signs, Fed Decision Next

Key Highlights Gold price struggled to climb above $1,520 and declined recently against the US Dollar.There was a break below a major bullish trend line with support near $1,490 on the 4-hours chart of XAU/USD.The US Pending Home Sales increased 1.5% in Sep 2019 (MoM), more than the +0.9% forecast.The US GDP is likely to grow 1.7% in Q3 2019 (Preliminary), down from the las...
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USD/JPY Remains Supported On Dips

Key Highlights The US Dollar is trading nicely above the key support at 107.00 against the Japanese Yen. Earlier, USD/JPY traded below a major bullish trend line at 108.10 on the 4-hours chart.The US GDP grew 2% in Q2 2019, similar to the market forecast and the last reading.The US Personal Income could rise 0.4% in August 2019 (MoM), better than the last +0.1%. USD/JPY ...
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USD/CHF Showing Bearish Signs, US GDP Report Next

Key Highlights The US Dollar started a downward move after it failed to break 0.9980 against the Swiss Franc. USD/CHF traded below a crucial bullish trend line at 0.9915 on the 4-hours chart.The ZEW Economic Expectations Index for Switzerland improved from -37.5 to -15.4 in Sep 2019.The US Gross Domestic Product is likely to grow 2.0% in Q2 2019. USD/CHF Technical Analys...
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USD/JPY Facing Uphill Task Near 107.00 Resistance

Key Highlights The US Dollar recovered strongly after a sharp decline to 104.45 against the Japanese Yen. USD/JPY is facing a strong resistance on the upside near 106.80 and 107.00.The US GDP in Q2 2019 (Prelim) increased 2.0%, similar to the market forecast.The US Personal Income might rise 0.3% in July 2019, less than the last +0.4%. USD/JPY Technical Analysis This...
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Gold Price Could Rally To $1,560, US GDP Next

Key Highlights Earlier this week, gold price surged to a new 6-year high at $1,555 against the US Dollar.The price remains supported near $1,525 and a bullish trend line on the 4-hours chart.EUR/USD is struggling below 1.1120 and GBP/USD is holding the key 1.2150 support.The US GDP in Q2 2019 is likely to grow 2% (preliminary), less than the last 2.1%. Gold Price Technic...
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EUR/USD Remains In Significant Downtrend

Key Highlights The Euro failed to hold the 1.1200 support and declined heavily against the US Dollar. A major bearish trend line is forming with resistance near 1.1215 on the 4-hours chart of EUR/USD.The US Gross Domestic Product grew 2.1% in Q2 2019 (Prelim), more than the 1.8% forecast.The Spanish CPI in July 2019 (Prelim) could increase 0.4% (YoY), similar to the last ch...
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