Gold Price Holding Key Support Ahead Of FOMC Minutes

Key Highlights Gold price recovered from $1,460 and settled above $1,485 against the US Dollar.There is a key bearish trend line forming with resistance near $1,510 on the 4-hours chart of XAU/USD.The US PPI declined 0.3% in Sep 2019 (MoM), whereas the forecast was +0.1%.Today’s FOMC Meeting Minutes could impact gold price in the short term. Gold Price Technical Analys...
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GBP/USD Sighting Upside Break Above 1.2400

Key Highlights The British Pound rebounded after it found support near 1.2200 against the US Dollar. A key bearish trend line is forming with resistance near 1.2375 on the 4-hours chart of GBP/USD.The UK Halifax House Price Index declined 0.4% in Sep 2019 (MoM), whereas the forecast was +0.1%.The US Producer Price Index could increase 0.1% in Sep 2019 (MoM). GBP/USD Tech...
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NZD/USD Could Correct Before Fresh Increase

Key Highlights The New Zealand Dollar recovered nicely above 0.6400 against the US Dollar. NZD/USD surpassed a major bearish trend line with resistance near 0.6340 on the 4-hours chart.The US NFIB Business Optimism Index decreased from 104.7 to 103.1 in August 2019.The US PPI could increase 0.1% in August 2019 (MoM), less than the last +0.2%. NZD/USD Technical Analysis ...
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USD/JPY Breakdown Looks Like The Real Deal

Key Highlights The US Dollar declined heavily after it broke the 108.60 support against the Japanese Yen. A short term bearish trend line is forming with resistance near 106.40 on the 4-hours chart of USD/JPY.The US Initial Jobless Claims in the week ending August 03, 2019 declined from 217K to 209K.The US PPI in July 2019 might increase 0.2% (MoM), more than the last +0.1%...
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USD/JPY Showing Signs of Weakness Below 108.50

Key Highlights The US Dollar topped near 109.00 and recently declined against the Japanese Yen. USD/JPY traded below a major bullish trend line with support near 108.25 on the 4-hours chart.The US CPI in June 2019 increased 0.1% (MoM), whereas the market was expecting no change.The US Producer Price Index is likely to remain flat in June 2019 (MoM). USDJPY Technical Anal...
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USD/CAD Broke Key Support, Recovery Could Be Capped

Key Highlights The US Dollar declined heavily below the 1.3400 support area against the Canadian Dollar. USD/CAD is likely to face resistance near the 1.3330 and 1.3350 levels.The US PPI in May 2019 increased 1.8% (YoY), less than the +2.0% forecast.The US CPI in May 2019 could increase 0.1% (MoM), less than the last +0.3%. USDCAD Technical Analysis In the past few da...
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USD/JPY Daily Chart Suggests Crucial Downside Break

Key Highlights The US Dollar declined sharply after it was rejected above 112.00 against the Japanese Yen.USD/JPY traded below a crucial bullish trend line with support at 111.05 on the daily chart.The US PPI in April 2019 increased 2.2% (YoY), less than the +2.3% forecast.The US CPI in April 2019 could rise 2.1% (YoY), up from than the last +1.9%. USDJPY Technical Analy...
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AUD/USD Positioned In Downtrend Below 0.7050

Key Highlights The Aussie Dollar declined recently below the 0.7070 and 0.7040 supports against the US Dollar.A key bearish trend line is formed with resistance near 0.7030 on the 4-hours chart of AUD/USD.China’s Trade Balance posted a surplus of $13.84B, well below the $35.00B forecast.The US PPI in April 2019 could rise 0.2% (MoM), less than the last +0.6%. AUDUSD Te...
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Gold Price Could Extend Rally Above $1,300

Key Highlights Gold price gained traction in the past few days and broke the $1,285 resistance against the US Dollar. There is a crucial bullish trend line formed with support at $1,288 on the 4-hours chart of XAU/USD. The US PPI in Dec 2018 declined 0.2% (MoM), more than the -0.1% forecast. The UK CPI report for Dec 2018 will be released today, which could rise 2...
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GBP/USD Could Test 1.3000 In Near Term

Key Highlights The British Pound gained momentum recently and broke the 1.2900 resistance against the US Dollar. There are two bullish trend lines formed with support at 1.2780 on the 4-hours chart of GBP/USD. China’s Trade Balance in Dec 2018 posted a surplus of $57.06B, more than the $51.53B forecast. The US Producer Price Index for Dec 2018 will be released t...
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