Gold Price Approaching Resistance, Fed Decision Next

Key Highlights Gold price started an upside correction from $1,266 against the US Dollar.There is a major bearish trend line forming with resistance near $1,292 on the 4-hours chart of XAU/USD.The US Pending Home Sales increased 3.8% in March 2019, more than the 1.1% forecast.The Fed Interest Rate Decision is scheduled today (forecast 2.5%, versus 2.5% previous). Gold Pr...
Read More

EUR/USD Bracing For Next Upside Break?

Key Highlights The Euro traded higher recently, but it struggled to break the 1.1490 resistance against the US Dollar. There is a major contracting triangle in place with resistance at 1.1465 on the 4-hours chart of EUR/USD. The US Pending Home Sales in Nov 2018 declined 0.7% (MoM), less than the last -2.6%. Today in the US, the Dallas Fed Manufacturing Business I...
Read More

USD/CHF – US Dollar In Monstrous Uptrend Vs Swiss Franc

Key Highlights The US Dollar climbed higher this week and moved above 0.9840 against the Swiss Franc. There is a short-term bullish trend line forming with support at 0.9880 on the 4-hours chart of USD/CHF. The US New Home Sales in Sep 2017 increased by 18.9% (MoM), better than the forecast of -0.9%. Today, the US Pending Home Sales for Sep 2017 will be released, ...
Read More

USD/CHF – Can US Dollar Break 0.9750 Vs Swiss Franc?

Key Highlights The US Dollar started an uptrend from the 0.9440 low against the Swiss Franc. There is a crucial contracting triangle forming with support at 0.9680 on the 4-hours chart of USD/CHF. The UBS Consumption Indicator in Switzerland for August 2017 rose from the last revised 1.46 to 1.53. The US Pending Home Sales figure will be released for August 2017, ...
Read More

GBP/USD – Can British Pound Settle Above 1.2850 Vs US Dollar

Key Highlights The British Pound recovered well after trading a few pips below the 1.2600 handle against the US Dollar. The GBP/USD pair is correcting higher, but faces a crucial resistance on the upside near 1.2850. Recently in the UK, the CBI Distributive Trades Survey – Realized for June 2017 was released, which posted a solid increase of 12% (MoM). Today in ...
Read More

EURUSD – Euro Remains In Uptrend Vs US Dollar

Key Highlights The Euro after a dip towards 1.0660 against the US Dollar found support, and recovered. This past week’s highlighted ascending channel pattern on the 4-hours chart of EURUSD is still active with support at 1.0700. The pattern may continue to act as a catalyst, and could ignite a rally towards 1.0770. Today, the Euro Zone Economic Confidence will b...
Read More

AUDUSD – Aussie Dollar Crushed Post CPI Report

AUDUSD – Aussie Dollar Crushed Post CPI Report Key Highlights             Australian Dollar traded down against the US Dollar, and looks set for more declines. There was a major support area at 0.7700 in AUDUSD, which was broken during the downside drift. Australian Consumer Price Index released by the RBA and republished by the Australian Bureau of Stat...
Read More

AUDUSD – Is This A Short-Term Correction?

AUDUSD – Is This A Short-Term Correction? Key Highlights             Aussie Dollar is following a bullish trend line on the hourly chart against the US Dollar, and it looks like poised for more gains. The AUDUSD pair is currently correcting lower and heading towards the support trend line. Buyers may appear around the highlighted trend line and support a...
Read More

EURUSD 1.1294 Eyes More Losses Post Critical Break

Key Highlights Euro after trading as high as 1.1294 started to move lower and traded below a major support area. A bullish trend line on the hourly chart was broken to open the doors for more losses. The EURUSD pair settled below the 100 hourly simple moving average, which is a negative sign. In the US, the Pending Home Sales report will be released by the National As...
Read More