EUR/USD Correcting Gains, Dips Remain Supported

Key Highlights The Euro gained momentum and traded towards 1.1420 against the US Dollar. EUR/USD is correcting gains, but remains well supported above 1.1300.The US Personal Income in May 2019 increased 0.5% (MoM), more than the +0.3% forecast.The US ISM Manufacturing Index in June 2019 could decline from 52.1 to 51.0. EURUSD Technical Analysis This past week, there w...
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EUR/USD Could Rally If It Breaks 1.1420

Key Highlights The Euro recovered recently and traded above the 1.1325 resistance against the US Dollar. A crucial bearish trend line is formed with resistance near 1.1408 on the 4-hours chart of EUR/USD. The US ISM Manufacturing Index declined from 56.6 to 54.2 in Feb 2019. The Euro Zone PPI for Feb 2019 will be released today, which could increase 0.4% (MoM). ...
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USD/JPY In Significant Uptrend Above 111.00

Key Highlights The US Dollar climbed higher and broke the 111.00 resistance against the Japanese Yen. There is a crucial bullish trend line in place with support at 110.60 on the 4-hours chart of USD/JPY. The US GDP in Q4 2019 grew 2.6% (Prelim), better than the forecast 2.3% forecast. The US ISM Manufacturing Index for Feb 2019 will be released today, which could...
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EUR/USD Starts 2018 with Lot of Strength

Key Highlights The Euro surged higher recently and succeeded in breaking the 1.2000 handle against the US Dollar. There is a crucial bullish trend line forming with support at 1.1980 on the 4-hours chart of EUR/USD. The recent high at 1.2080 is a short-term resistance followed by 1.2100. The US ISM Manufacturing Index increased in Dec 2017 to 59.7 from the previou...
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EUR/USD – Euro Remains Bullish Vs US Dollar

Key Highlights The Euro made a nice upside move and is placed well above the 1.1840 support against the US Dollar. There is a key bullish trend line forming with support at 1.1850 on the 4-hours chart of EUR/USD. The US ISM Manufacturing Index declined from the last reading of 58.7 to 58.2 in Nov 2017. Today, the US Factory Orders figure for Oct 2017 will be relea...
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USD/JPY – US Dollar Kick Starts Recovery Vs Japanese Yen

Key Highlights The US Dollar found support near 110.80-110.00 against the Japanese Yen, and started an upside move. There was a break above a crucial bearish trend line with resistance at 111.80 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending Nov 25, 2017 declined to 238K. Japan’s National CPI in Oct 2017 increased to 0.2%, com...
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NZD/USD – New Zealand Dollar Sellers In Driver’s Seat Vs USD

Key Highlights The New Zealand Dollar made a downside move from the 0.7200 swing high against the US Dollar. There is a major bearish trend line forming with resistance at 0.6900-0.6920 on the 4-hours chart of NZD/USD. New Zealand’s Employment Change in Q3 2017 was 2.2%, compared with the forecast of 0.8%. Today in the US, the Fed Interest rate decision is sched...
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USDCAD – Canadian Dollar May Continue To Gain Vs US Dollar

USDCAD – Canadian Dollar May Continue To Gain Vs US Dollar Key Highlights             US Dollar struggle continued against the Canadian Dollar, as the USDCAD pair remained in a downtrend. There is a monster bearish trend line formed on the hourly chart of the USDCAD pair, which is acting as a hurdle for the pair. In the US, the Institute for Supply Manag...
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USDJPY – Yen To Gain Further?

USDJPY – Yen To Gain Further? Key Highlights             US Dollar struggled this week against the Japanese Yen, and it looks like latter one is set for more gains. The USDJPY pair broke a support trend line formed on the hourly chart to ignite a downside move. Japanese Unemployment Rate which comes from the Ministry of Health, Labour and welfare came i...
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