Gold Price Hesitates But Further Gains Seem Likely

Key Highlights Gold price formed a solid support near $1,485 and climbed above $1,515 against the US Dollar.There was a break above a major bearish trend line at $1,506 on the 4-hours chart of XAU/USD.The US Consumer Confidence declined sharply from 134.2 to 125.1 in Sep 2019.The US New Home Sales could increase 3.9% in August 2019 (MoM), better than the last -12.8%. Gol...
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USD/CHF Rallies To New 3-Year High

Key Highlights The US Dollar rallied and traded to a new 3-year high above 1.0200 against the Swiss Franc.USD/CHF broke a crucial ascending channel near 1.0060 on the 4-hours chart and surged higher.The US New Home Sales in March 2019 increased 4.5% (MoM), whereas the forecast was -2.5%.The BoC Interest Rate Decision will be announced today (forecast – no change from 1.75...
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Can GBP/USD Bounce Back In Near Term?

Key Highlights The British Pound declined steadily recently below the 1.3080 support against the US Dollar.GBP/USD traded below a major bullish trend line with support at 1.3070 on the daily chart.The US Existing Home Sales in March 2019 declined 4.9% (MoM), more than the -2.3% forecast.The US Housing Price Index in Feb 2019 could rise 0.3% (MoM), less than the last +0.6%. ...
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USD/JPY Remains In Downtrend Below 112.00

Key Highlights The US Dollar struggled to recover above the 111.40 level and declined against the Japanese Yen. There is a crucial bearish trend line in place with resistance at 111.50 on the 4-hours chart of USD/JPY. The US Housing Price Index in Oct 2018 increased 0.3% (MoM), more than the last +0.2%. Today in the US, the New Home Sales figure will be released, ...
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Gold Price Remains in Downtrend Below $1,240

Key Highlights Gold price declined heavily and traded towards $1,210 before correcting higher against the US Dollar. There was a break above a major bearish trend line with resistance near $1,228 on the 4-hours chart of XAU/USD. The US New Home Sales in June 2018 decreased 5.3% (MoM), more than the forecast of -2.8%. Today in the US, the Initial Jobless Claims wil...
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EUR/USD is Likely Forming Double Bottom at 1.1510

Key Highlights The Euro declined and retested the last swing low of 1.1505-10 against the US Dollar. There is a connecting bearish trend line in place with resistance at 1.1700 on the 4-hours chart of EUR/USD. The US Services Purchasing Managers Index (PMI) (Prelim) in June 2018 declined from 56.8 to 56.5. Today in the US, the New Home Sales Change for May 2018 wi...
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GBP/USD Faces Tough Resistance Around 1.40

Key Highlights The British Pound declined sharply and broke the 1.4080 pivot level against the US Dollar. There was a break below a key bullish trend line with support at 1.4170 on the 4-hours chart of GBP/USD. The pair is in a major downtrend and any recovery is likely to face resistance near 1.4000-1.4020. The US New Home Sales in March 2018 increased 4% (MoM), ...
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Gold Price Broke Key Supports Near $1,335

Key Highlights Gold price started a downside move from the $1,355 level against the US Dollar. There was a break below two bullish trend lines at $1,345 and $1,335 on the 4-hours chart of XAU/USD. The US Existing Home sales in March 2018 grew 1.1%, more than the +0.2% forecast. Today, the US New Home Sales report for March 2018 will be released, which is forecaste...
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Gold Price Poised to Break $1300 Vs US Dollar

Key Highlights Gold price remains in a major uptrend and is currently well above the $1280 support against the US Dollar. There is a key rising channel forming with support at $1282 on the 4-hours chart of XAU/USD. The US New Home Sales in Oct 2017 increased 6.2% (MoM), which was opposite to the -6.3% forecast. Today, the US Housing Price Index for Sep 2017 will b...
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EUR/USD – Euro Remains Well Bid above 1.1850 Vs US Dollar

Key Highlights The Euro made a nice upside move this past week and settled above the 1.1850 resistance. There is a major bullish trend line forming with support at 1.1840 on the 4-hours chart of EUR/USD. The US Manufacturing PMI in Nov 2017 (Preliminary) declined from 54.6 to 53.8. The US New Home Sales report for Oct 2017 will be released today, which is forecast...
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