USD/JPY Breaks Key Support, More Losses Likely

Key Highlights USD/JPY was rejected near 109.70 and it declined below 109.00.The pair broke a broad range support near 108.50.The US Initial Jobless Claims for the week ending Dec 28, 2019 declined to 222K.The US ISM Manufacturing PMI could increase from 48.1 to 49.0 in Dec 2019. USD/JPY Technical Analysis After another rejection near 109.70, USD/JPY declined heavily ...
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EUR/USD At Risk of Further Declines

Key Highlights EUR/USD extended its decline and retested the 1.0980 support area.A major bearish trend line is forming with resistance near 1.1045 on the 4-hours chart.The Euro Zone CPI increased 1% in Nov 2019 (Prelim) (YoY), better than the 0.7% forecast.The US ISM Manufacturing Index might increase from 48.3 to 49.4 in Nov 2019. EUR/USD Technical Analysis This past...
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AUD/USD Tumbles To New Multi-Year Low

Key Highlights The Aussie Dollar traded to a new multi-year low against the US Dollar. AUD/USD is now facing resistance near 0.6730 and a bearish trend line on the 4-hours chart.The Reserve Bank of Australia reduced the interest rate from 1.0% to 0.75%.The US ISM Manufacturing Index declined from 49.1 to 47.8 in Sep 2019. AUD/USD Technical Analysis This month, there w...
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Crude Oil Price At Risk of More Downsides

Key Highlights Crude oil price failed to surpass the key resistance near $57.00 against the US dollar.XTI/USD traded below a major bullish trend line with support at $54.75 on the 4-hours chart.GBP/USD spiked below the 1.2000 support and EUR/USD fell below 1.0950.The US ISM Manufacturing Index declined sharply from 51.2 to 49.1 in August 2019. Crude Oil Price Technical A...
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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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