GBP/USD Signaling Bullish Continuation

Key Highlights GBP/USD rallied recently above the 1.2900 and 1.2950 resistance levels.There was a break above a major bearish trend line at 1.2920 on the 4-hours chart.A strong resistance is waiting on the upside near 1.3000.The US Housing starts could increase 0.6% in Oct 2019 (MoM). GBP/USD Technical Analysis After a downside correction, the British Pound found supp...
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GBP/USD’s Recovery Could Fail Near 1.2700

Key Highlights The British Pound found support near 1.2475 and recently recovered against the US Dollar. There are two important bearish trend lines in place with resistance near 1.2700 on the 4-hours chart of GBP/USD. The Euro Zone Core CPI declined 0.3% in Nov 2018 (MoM), more than the forecast of -0.2%. Today, the US Housing Starts for Nov 2018 will be released...
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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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GBP/USD Likely to Revisit 1.3200 In Near Term

Key Highlights The British Pound declined sharply from well above 1.3400 and broke 1.3300 against the US Dollar. There was a downside break below 1.3330 on the 4-hours chart of GBP/USD. The pair is now in a bearish zone and it could decline back towards the 1.3200 level in the near term. Today in the US, the Building Permits for May 2018 will be released, which is...
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USD/JPY Remains in Bearish Trend Below 107.00

Key Highlights The US Dollar failed to move higher above 107.00 and declined against the Japanese Yen. There is a crucial bearish trend line forming with current resistance at 106.80 on the 4-hours chart of USD/JPY. The US initial jobless claims for the week ending March 10, 2018 declined from the last revised reading of 230K to 226K. Today, the US Industrial Prod...
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EUR/USD Dips Remain Supported above 1.2350

Key Highlights The Euro traded higher this past week, but it failed to move above the 1.2550 resistance against the US Dollar. There is a major bullish trend line forming with support at 1.2380 on the 4-hours chart of EUR/USD. The US Building Permits rose 7.4% in Jan 2018 (MoM), more than the forecast of 3.5%. The US Housing Starts grew 9.7% in Jan 2018 (MoM), bet...
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USD/JPY Showing Positive Recovery Signs

Key Highlights The US Dollar found support after trading as low as 110.19 against the Japanese Yen. There was a break above a short-term bearish trend line with resistance at 111.15 on the 4-hours chart of USD/JPY. The pair faces many resistances on the upside at 111.80 and 112.00. The US Building Permits in Dec 2017 declined by 0.1%, less than the forecast of -1....
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Can NZD/USD Retain Gains Above 0.7000?

Key Highlights The New Zealand Dollar moved nicely recently and traded above 0.6950-80 resistance against the US Dollar. There is a short-term breakout pattern forming with support at 0.6980 on the 4-hours chart of NZD/USD. A break above 0.7030 is required for buyers to step up the bullish momentum. The ANZ Business Confidence in January 2018 increased to -37.8 fr...
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USD/JPY – US Dollar Pressured Vs Japanese Yen Below 113.50

Key Highlights The US Dollar started a new downside wave from the 114.70 swing high against the Japanese Yen. There is a key contracting triangle forming with resistance at 113.50 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending Nov 11, 2017 posted a rise from 239K to 249K. Today in the US, the Building Permits figure for Oct 2017...
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NZD/USD – New Zealand Dollar Trend Overwhelmingly Negative

Key Highlights The New Zealand Dollar corrected towards 0.7200 against the US Dollar where it found sellers. A connecting bearish trend line with current resistance at 0.7160 on the 4-hours chart of NZD/USD is preventing an upside break. The US Building Permits in Sep 2017 posted a 4.5% decline, compared with the -2.9% forecast. Today in the US, the Initial Jobles...
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