GBP/USD Holding Gains Above Crucial Support

Key Highlights The British Pound declined recently and tested the 1.3080-1.3100 support against the US Dollar. GBP/USD tested a connecting bullish trend line with support at 1.3100 on the 4-hours chart. The US Retail Sales in Sep 2018 increased 0.1%, less than the +0.5% forecast. Today, the US Industrial Production for Sep 2018 will be released, which is forecaste...
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Can GBP/USD Break The 1.3400 Resistance?

Key Highlights The British Pound traded higher recently and broke the 1.3260 resistance against the US Dollar. There is a crucial bullish trend line formed with support at 1.3220 on the 4-hours chart of GBP/USD. China’s CPI in June 2018 posted an increase of 1.9% (YoY) similar to the forecast. Today in the UK, the Manufacturing Production for May 2018 will be re...
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EUR/USD Remains at Risk of More Downsides

Key Highlights The Euro struggled to move above 1.2370 against the US Dollar and declined this past week. There is a major bearish trend line forming with resistance at 1.2375 on the 4-hours chart of EUR/USD. The US Industrial Production increased 1.1% in Feb 2018 compared with the +0.3% forecast. Today, the Euro Zone Trade Balance figure for Jan 2018 will be rele...
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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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USD/JPY Remains In Major Downtrend

Key Highlights The US Dollar declined heavily this week and moved below the 108.20 support against the Japanese Yen. There are two bearish trend lines forming with resistance at 107.40 and 108.10 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending Feb 10, 2018 rose from the last revised reading of 223K to 230K. The US Industrial Prod...
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Gold Price Testing Crucial Support at $1320

Key Highlights Gold price is in a major uptrend and it recently broke the $1300-1320 resistance zone against the US Dollar. There are two key bullish trend lines forming with support at $1325 and $1320 on the 4-hours chart of XAU/USD. The price remains in an uptrend as long as it is above the $1320 level. The US Industrial Production in Dec 2017 increased by 0.9%,...
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Can GBP/USD Hold 1.3480 Ahead of UK’s Production Report?

Key Highlights The British Pound formed a short-term top at 1.3612 and declined against the US Dollar. There is a contracting triangle forming with current support at 1.3500 on the 4-hours chart of GBP/USD. The pair must hold the 1.3480-1.3500 support in order to initiate a fresh upside move. Today, the UK’s Industrial Production for Nov 2017 will be released, w...
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EURUSD Facing Crucial Support Test

Key Highlights The Euro failed to move above the 1.1850 resistance against the US Dollar and moved down. EUR/USD is now approaching a major support area around 1.1710, which must hold declines. Japan’s Adjusted Merchandise Trade Balance in Nov 2017 came in at ¥364.1B, better than the forecast of ¥342.4B. Today, the Euro Zone CPI for Nov 2017 will be released (...
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USD/JPY Signaling Bearish Continuation Below 112.30

Key Highlights The US Dollar faced bearish pressure after the fed rate decision and declined below 113.00 against the Japanese Yen. USD/JPY also broke a crucial support area near 112.30 and a bullish trend line on the 4-hours chart. Japan’s Tankan Large Manufacturing Index in Q4 2017 posted an increase from 22 to 25. Today’s Industrial production report in the...
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Gold Price Signaling Bullish Continuation above $1280 Vs US Dollar

Key Highlights Gold price started an upside correction from the $1265 swing low against the US Dollar. There is a crucial ascending channel forming with support near $1274 on the 4-hours chart of XAU/USD. The US Consumer Price Index in Oct 2017 increased 2% (YoY), similar to the market forecast. Today, the US Industrial Production for Oct 2017 will be released, wh...
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