Gold Price Facing Crucial Resistance Near $1,500

Key Highlights Gold price is trading below a major hurdle near $1,500 against the US Dollar.There is a crucial bearish trend line forming with resistance near $1,500 on the 4-hours chart of XAU/USD.The US Retail Sales declined 0.3% in Sep 2019 (MoM), whereas the forecast was +0.3%.The US Industrial Production could decline 0.1% in Sep 2019 (MoM), whereas the last was +0.6%....
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Crude Oil Price Likely To Accelerate Decline Below $54

Key Highlights Crude oil price is facing a strong resistance near $57.00 against the US dollar.A major bearish trend is forming with resistance near $57.10 on the 4-hours chart of XTI/USD.The US crude oil inventories increased by 1.6 million barrels in the week ending August 9, 2019.The US Retail Sales in July 2019 might increase 0.3% (MoM), less than the last +0.4%. Cru...
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EUR/USD Turned Bearish Below 1.1280

Key Highlights The Euro started a major decline below the 1.1300 support against the US Dollar. EUR/USD traded below key bullish trend lines at 1.1340 and 1.1295 on the 4-hours chart. The US Personal Income increased 0.2% in Feb 2019 (MoM), less than the +0.3% forecast. The US ISM Manufacturing Index for March 2019 is likely to increase from 54.2 to 54.5. EURUS...
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EUR/USD Could Struggle To Recover Above 1.1300

Key Highlights The Euro declined heavily and broke the 1.1250 support against the US Dollar. There was a break below a couple of important bullish trend lines on the 4-hours chart of EUR/USD. The US nonfarm payrolls in Feb 2019 came in at 20K, less than the 180K forecast. The US Retail Sales for Jan 2019 will be released today, which could increase 0.1% (MoM). ...
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USD/JPY Correction Approaching Crucial Support

Key Highlights The US Dollar failed to stay above 111.00 and declined sharply against the Japanese Yen. There is a connecting bullish trend line formed with support at 110.30 on the 4-hours chart of USD/JPY. The US Retail Sales in Jan 2019 declined 1.2% (MoM), whereas the forecast was +0.2%. The US Industrial Production for Jan 2019 will be released today, which c...
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USD/JPY Approaching Significant Resistance Near 114.00

Key Highlights The US Dollar climbed higher recently and traded above the 113.00 resistance against the Japanese Yen. There was a break above a major bearish trend line with resistance at 113.24 on the 4-hours chart of USD/JPY. The US Initial Jobless Claims for the week ending Dec 08, 2018 declined from 233K (revised) to 206K. Today, the US Retail Sales figure for...
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USD/JPY Approaching Crucial Support Near 113.00

Key Highlights The US Dollar formed a short term top at 114.20 and declined recently against the Japanese Yen. There was a break below a major ascending channel with support at 113.65 on the 4-hours chart of USD/JPY. The US Retail Sales in Oct 2018 increased 0.8%, more than the +0.5% forecast. Today, the US Industrial Production for Oct 2018 will be released, whic...
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GBP/USD Holding Gains Above Crucial Support

Key Highlights The British Pound declined recently and tested the 1.3080-1.3100 support against the US Dollar. GBP/USD tested a connecting bullish trend line with support at 1.3100 on the 4-hours chart. The US Retail Sales in Sep 2018 increased 0.1%, less than the +0.5% forecast. Today, the US Industrial Production for Sep 2018 will be released, which is forecaste...
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EUR/USD is Facing Uphill Task Near 1.1620

Key Highlights The Euro started an upside correction after trading as low as 1.1432 against the US Dollar. There was a break above a major bearish trend line with resistance at 1.1500 on the 4-hours chart of EUR/USD. The Euro area Industrial Production in August 2018 increased 0.9%, better than the -0.2% forecast. Today, the US Retail Sales for Sep 2018 will be re...
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EUR/JPY: Is This Upside Break in Euro to Yen?

Key Highlights The Euro started a nice upside move from the 130.50 swing low against the Japanese Yen. There was a break above a crucial contracting triangle with resistance at 131.60 on the 4-hours chart of EUR/JPY. The pair could gain traction if it continues to find support near 131.50. Today, the German CPI figures for Feb 2018 will be released, which is expec...
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