Gold Price Remains In Strong Uptrend Above $1,400

Key Highlights Gold price started a downside correction from the $1,450 resistance against the US Dollar.A crucial bullish trend line is forming with support near $1,418 on the 4-hours chart of XAU/USD.The US Personal Income in June 2019 increased 0.4% (MoM), similar to the forecast.The US ADP Employment could change by 150K in July 2019, more than the last 102K. Gold Pr...
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GBP/USD Nosedives To New 2-Year Low Below 1.2200

Key Highlights The British Pound declined heavily and traded to a new 2-year low against the US Dollar. GBP/USD struggled to break a crucial bearish trend line with current resistance near 1.2440 on the 4-hours chart.UK’s Consumer Credit in June 2019 came in at £1.046B, up from the last revised £0.906B.The US Personal Income in June 2019 could increase 0.4% (MoM), less ...
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USD/JPY Trading Near Make-or-Break Levels

Key Highlights The US Dollar started a decent recovery from 106.80 against the Japanese Yen. USD/JPY is facing a strong resistance near 108.20 and a bearish trend line on the 4-hours chart.The US GDP in Q1 2019 grew 3.1%, similar to the market expectation.The US Personal Income in May 2019 could rise 0.4% (MoM), more than the last +0.3%. USDJPY Technical Analysis Afte...
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USD/JPY Recovery Failed Near Key Resistance

Key Highlights The US Dollar found support near 109.20 and recently recovered against the Japanese Yen. USD/JPY failed near 109.90 and remained below a key bearish trend line on the 4-hours chart.The US GDP grew 3.1% in Q1 2019, according to the "second" estimate.The US Personal Income in April 2019 could rise 0.3% (MoM), more than the last +0.1%. USDJPY Technical Analys...
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GBP/USD In Significant Downtrend Below 1.3000

Key Highlights The British Pound traded to a new monthly low at 1.2865 against the US Dollar.A major bearish trend line is forming with resistance near 1.2980 on the 4-hours chart of GBP/USD.The US Personal Income in March 2019 (MoM) increased 0.1%, less than the 0.4% forecast.The US Pending Home Sales could rise 0.5% in March 2019 (MoM). GBPUSD Technical Analysis Ear...
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USD/JPY Could Struggle Near 111.00 Resistance

Key Highlights The US Dollar found support near 109.70 and recently rebounded higher against the Japanese Yen. A crucial resistance is formed near the 111.00 zone on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending March 23, 2019 declined from 216K to 211K. The US Personal Income for Feb 2019 is likely to increase 0.3% (MoM). USDJ...
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USD/JPY Could Correct Lower In Short Term

Key Highlights The US Dollar failed again to break the 114.00 resistance area against the Japanese Yen. There is a key bearish trend line formed with resistance at 114.00 on the 4-hours chart of USD/JPY. The Tokyo Consumer Price Index increased 0.8% (YoY) in Nov 2018, less than the market forecast of 1.0%. Today in the US, the Chicago Purchasing Manager’s Index ...
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EUR/USD Turned Bearish Below 1.1500

Key Highlights The Euro declined further and traded towards 1.1340 against the US Dollar. There is a major bearish trend line formed with resistance at 1.1460 on the 4-hours chart of EUR/USD. The US Gross Domestic Product for Q3 2018 (Preliminary) increased 3.5%, better than the 3.3% forecast. Today, the US Personal Income for Sep 2018 (MoM) will be released, whic...
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USD/JPY Remains Bullish Above 110.80

Key Highlights The US Dollar traded higher this week and settled above the 110.80 resistance against the Japanese Yen. There was a break above an important bearish trend line with resistance at 110.86 on the 4-hour chart of USD/JPY. The US Personal Income in July 2018 increased 0.3% (MoM), less than the last increase of 0.4%. Tokyo’s Consumer Price Index ex Fres...
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AUD/USD in Slow and Steady Uptrend

Key Highlights The Aussie Dollar moved higher this past week and broke the 0.8000 resistance against the US Dollar. There is a crucial ascending channel forming with current support at 0.8060 on the 4-hours chart of AUD/USD. The pair may continue to rise as long as it is above the 0.8000 support level. The US Personal Income rose 0.4% in Dec 2017, more than the fo...
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