GBP/USD Could Dip Further Before Fresh Increase

Key Highlights The British Pound declined below the key 1.2350 support against the US Dollar. GBP/USD could find support near 1.2230 or 1.2200.The UK GDP grew 1.3% in Q2 2019 (YoY), more than the 1.2% forecast.The UK Manufacturing PMI is likely weaken further from 47.4 to 47.0 in Sep 2019. GBP/USD Technical Analysis In the past few days, there was a steady decline in ...
Read More

GBP/USD Approaching Key Uptrend Support

Key Highlights The British Pound started a downside correction from 1.2580 against the US Dollar. GBP/USD might find bids near 1.2380 and a bullish trend line on the 4-hours chart.The US Manufacturing PMI in Sep 2019 (Prelim) increased from 50.3 to 51.0.The US Consumer Confidence (CB) could decline from 135.1 to 134.1 in Sep 2019. GBP/USD Technical Analysis This past ...
Read More

EUR/USD Consolidating Below Key Resistances

Key Highlights The Euro seems to be struggling near 1.1070 and 1.1080 against the US Dollar. A crucial bearish trend line is forming near 1.1080 on the 4-hours chart of EUR/USD.GBP/USD is trading with a positive bias above the 1.2350 and 1.2400 supports.The US Manufacturing PMI is likely to remain stable near 50.3 in Sep 2019 (Preliminary). EUR/USD Technical Analysis ...
Read More

USD/JPY Struggling To Gain Bullish Momentum

Key Highlights The US Dollar started a decent recovery from 105.05 against the Japanese Yen. USD/JPY is facing many key resistances near 107.00 and 107.20.The US Manufacturing PMI declined from 50.4 to 49.9 in August 2019 (119-month low) (Prelim).Jackson Hole Symposium and G7 Meeting could impact the market sentiment in the short term. USD/JPY Technical Analysis This ...
Read More

USD/CAD Remains In Uptrend Above 1.3200

Key Highlights Recently, the US Dollar retested the key 1.3345 resistance against the Canadian Dollar. A major bullish trend line is forming with support near 1.3240 on the 4-hours chart of USD/CAD.Canada’s CPI increased 0.5% in July 2019 (MoM), more than the +0.2% forecast.The US Manufacturing PMI could increase from 50.4 to 50.5 in August 2019 (Preliminary). USD/CAD ...
Read More

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 ...
Read More

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 ...
Read More

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...
Read More

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 ...
Read More

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 ...
Read More

12...»