USD/JPY Facing Uphill Task, Can Bulls Make It?

Key Highlights USD/JPY is holding the key 108.25 and 108.20 support levels.A crucial resistance is forming near 108.80 and a bearish trend line on the 4-hours chart.The US Initial Jobless Claims for the week ending Nov 16, 2019 came in at 227K vs 219K forecast.The US Manufacturing PMI could increase from 51.3 to 51.5 in Nov 2019 (Prelim). USD/JPY Technical Analysis Re...
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USD/JPY Holding Key Support Near 108.00

Key Highlights The US Dollar settled above the key 107.80 and 108.00 resistances against the Japanese Yen.USD/JPY is correcting gains, but it remains well supported near 108.00.EUR/USD and GBP/USD are showing positive signs above 1.1075 and 1.2800 respectively.The US Manufacturing PMI increased from 51.1 to 51.5 in Oct 2019 (Preliminary). USD/JPY Technical Analysis Th...
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AUD/USD Correcting Gains But Remains Supported

Key Highlights The Aussie Dollar surged recently towards 0.6900 against the US Dollar.AUD/USD is correcting gains, but it is likely to find a strong support near 0.6800.Australia’s monthly trade balance was a deficit of $1,242M, down from $-1,628M.The US Manufacturing PMI could decline from 51.1 to 50.7 in Oct 2019 (Preliminary). AUD/USD Technical Analysis In the la...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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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