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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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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