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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USD/JPY Eyeing More Upsides Above 109.00

Key Highlights The US Dollar climbed higher recently from the 108.00 support against the Japanese Yen. USD/JPY traded above a key bearish trend line at 108.15 on the 4-hours chart.The US Initial Jobless Claims for the week ending July 20, 2019 declined from 216K to 206K.The US Gross Domestic Product in Q2 2019 (Prelim) might grow 1.8%, less than the last +3.1%. USDJPY Te...
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AUD/USD Recovery Approaching Key Resistance

Key Highlights The Aussie Dollar started a strong recovery from the 0.6830 support against the US Dollar. AUD/USD broke the 0.6900 resistance and a bearish trend line on the 4-hours chart.The US Durable Goods Orders declined 1.3% in May 2019, more than the -0.1% forecast.The US Gross Domestic Product in Q1 2019 could grow 3.1%. AUDUSD Technical Analysis After trading ...
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EUR/USD Rebound Could Be Capped, US GDP Impresses

Key Highlights The Euro declined to a new monthly low at 1.1110 and later recovered against the US Dollar.A crucial bearish trend line is in place with resistance at 1.1190 on the 4-hours chart of EUR/USD.The US GDP in Q1 2019 (Prelim) increased 3.2%, more than the 2.0% forecast.The Euro Zone Business Climate Index in April 2019 could decline from 0.53 to 0.50. EURUSD Te...
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USD/JPY Near Crucial Juncture Ahead of US GDP Release

Key Highlights The US Dollar spiked higher, but failed to stay above 112.00 against the Japanese Yen.An ascending channel is in place with support near 111.30 on the 4-hours chart of USD/JPY.The US Durable Goods Orders in March 2019 gained 2.7% (MoM), more than the 0.8% forecast.The US Gross Domestic Product in Q1 2019 (Prelim) could increase 2.1%, less than the last 2.2%. ...
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Gold Price Uptrend Facing Many Hurdles

Key Highlights Gold price started a solid upward move from the $1,282 support against the US Dollar. There is a significant ascending channel formed with support at $1,308 on the 4-hours chart of XAU/USD. The US Trade Balance in Jan 2019 posted a deficit of $-51.1B, better than the $-57.0B forecast. The US Gross Domestic Product in Q4 2018 is likely to grow 2.4%, ...
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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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