Crude Oil Price Could Struggle To Surpass $58.00

Key Highlights Crude oil price topped near $60.80 and declined sharply below $57.00 against the US dollar.A bearish trend is forming with resistance near $57.80 on the 4-hours chart of XTI/USD.The US Manufacturing PMI in July 2019 (Prelim) declined from 50.6 to 50.0.The US Durable Goods Orders in June 2019 could increase 0.7%, better than the last -1.3%. Crude Oil Price ...
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AUD/USD Likely To Remain Supported On Dips

Key Highlights The Aussie Dollar started a downside correction from 0.7080 against the US Dollar. AUD/USD is likely to find strong bids near 0.6970 or 0.6950 in the near term.The Housing Price Index in May 2019 increased 0.1% (MoM), less than the +0.3% forecast.The US Manufacturing PMI in July 2019 (Preliminary) could rise from 50.6 to 51.0. AUDUSD Technical Analysis ...
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EUR/USD Signaling Bullish Continuation Above 1.1350

Key Highlights The Euro gained momentum and broke the 1.1350 resistance against the US Dollar. EUR/USD is showing positive signs and it could rise above 1.1400 in the near term.The US Manufacturing PMI in June 2019 (Prelim) declined from 50.5 to 50.1.The German IFO Business Climate Index in June 2019 might slide from 97.9 to 97.3. EURUSD Technical Analysis After dovis...
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USD/JPY Struggling To Regain Ground Post Dovish Fed

Key Highlights Recently, the Fed signaled possible interest rate cuts in 2019, putting pressure on the US Dollar. USD/JPY settled below 108.50 and even broke the 108.00 support area.The US Initial Jobless Claims for the week ending June 15, 2019 declined from 222K to 216K.The US Manufacturing PMI in June 2019 (Preliminary) could slide from 50.5 to 50.4. USDJPY Technical ...
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Gold Price Daily Chart Signaling Bearish Continuation

Key Highlights Gold price topped near the $1,346 level in Feb 2019 and later corrected lower.There is a crucial declining channel formed with resistance at $1,292 on the daily chart of XAU/USD.China’s GDP grew 6.4% in Q1 2019 (YoY), more than the 6.3% forecast.The US Retail Sales in March 2019 could increase 0.9% (MoM), better than the last -0.2%. Gold Price Technical ...
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EUR/USD Could Extend Losses Before Fresh Increase

Key Highlights The Euro faced a strong resistance near 1.1450 and later corrected lower against the US Dollar. EUR/USD traded below a major bullish trend line with support at 1.1365 on the 4-hours chart. The US Manufacturing PMI for March 2019 (Prelim) declined from 53.0 to 52.5. The German IFO Business Climate Index for March 2019 could rise from 98.5 to 98.7. ...
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USD/JPY Could Correct Lower In Medium Term

Key Highlights The US Dollar found a strong resistance above 112.00 and recently declined against the Japanese Yen. Two important bearish trend lines are in place near 111.60 and 112.50 on the daily chart of USD/JPY. The US Initial Jobless Claims for the week ending March 16, 2019 declined from 230K to 221K. The US Manufacturing PMI for March 2019 (Preliminary) co...
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EUR/GBP Could Resume Downtrend Below 0.8700

Key Highlights The Euro struggled near 0.8840 and later declined against the British Pound. There was a break below a major bullish trend line with support at 0.8770 on the 4-hours chart of EUR/GBP. Germany’s PPI for Jan 2019 increased 0.4% (MoM), compared with the -0.2% forecast. The Euro Zone Manufacturing PMI for Feb 2019 (Preliminary) will be released today,...
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USD/CAD Could Extend Recovery Above 1.3400

Key Highlights The US Dollar started a decent recovery after testing the 1.3200 support against the Canadian Dollar. There is a major ascending channel formed with support at 1.3280 on the 4-hours chart of USD/CAD. Canada’s Retail Sales declined 0.9% in Nov 2018 (MoM), compared with the -0.6% forecast. The US Manufacturing PMI for Jan 2019 (Prelim) will be relea...
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EUR/USD Could Revisit The 1.1250 Support Area

Key Highlights The Euro failed to break the 1.1470 resistance and declined against the US Dollar. There is a major bearish trend line in place with resistance at 1.1450 on the 4-hours chart of EUR/USD. The US Manufacturing PMI for Oct 2018 (Preliminary) declined from 55.7 to 55.4. Today, the German IFO Business Climate Index for Nov 2018 will be released, which is...
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