GBP/USD In Downtrend As Long As Below 1.2250

Key Highlights The British Pound started an upside correction above 1.2100 against the US Dollar. A declining channel is forming with resistance near 1.2205 on the 4-hours chart of GBP/USD.The UK Services PMI in July 2019 increased from 50.2 to 51.4.The US IBD/TIPP Economic Optimism Index in August 2019 might decline from 56.6 to 54.6. GBPUSD Technical Analysis This p...
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USD/CHF Recovery Could Extend Towards Parity

Key Highlights The US Dollar started a strong recovery from the 0.9696 low against the Swiss Franc. USD/CHF traded above a bearish trend line with resistance near 0.9790 on the 4-hours chart.The ISM-NY Business Conditions Index in June 2019 increased from 48.6 to 50.0.The US ADP Employment figure could change 140K in June 2019, up from the last 27K. USDCHF Technical Anal...
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Gold Price Breaks Key Resistance, Dips Remain Supported

Key Highlights Gold price started a fresh increase above $1,288 and $1,300 resistances against the US Dollar.There was a break above a key bearish trend line at $1,281 on the 4-hours chart of XAU/USD.The US Factory Orders in April 2019 declined 0.8%, less than the -0.9% forecast.The US ISM Non-Manufacturing Index in May 2019 is likely to remain stable at 55.5. Gold Price...
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EUR/USD Remains Supported Near 1.1700

Key Highlights The Euro made a nice upside move and traded above 1.1700 level against the US Dollar. There is a key bullish trend line in place with support near 1.1700 on the 4-hours chart of EUR/USD. The US Services PMI in Sep 2018 (Prelim) declined from 54.8 to 52.6. Today, the Chicago Fed National Activity Index (CFNAI) for August 2018 will be released, which ...
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Crude Oil Price Turned Bearish Below $66.00?

Key Highlights Crude oil price started a fresh downside move and declined below the $66.00 support against the US dollar. There is a major bearish trend line in place with resistance at $65.90 on the 4-hours chart of XTI/USD. The US Services Purchasing Managers Index (PMI) in May 2018 increased to 56.8 from 55.7. Today in the US, the Trade Balance figure for April...
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Can GBP/USD Move Past 1.3400?

Key Highlights The British Pound recovered recently and moved above the 1.3300 resistance against the US Dollar. There was a break above a key bearish trend line with resistance at 1.3310 on the 4-hours chart of GBP/USD. The UK Construction PMI in May 2018 remained at 52.5 versus the forecast of 52.0. Today in the US, the US Services PMI for May 2018 will be relea...
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Gold Price Moved In Bearish Zone Below $1,320?

Key Highlights Gold price declined recently and broke a major support at $1,320 against the US Dollar. There is a key bearish trend line forming with resistance at $1,315 on the 4-hours chart of XAU/USD. The US ADP Employment Change in April 2018 was 204K, more than the forecast of 200K. Today, the US Initial Jobless Claims for the week ending April 28, 2018 will ...
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GBP/USD: Is This Correction or Trend Change?

Key Highlights The British Pound started a downside move after trading as high as 1.4345 against the US Dollar. There was a break below a key bullish trend line with support at 1.4130 on the 4-hours chart of GBP/USD. Two important supports on the downside 1.3950 and 1.3920 hold a lot of significance in the short term. The UK British Retail Consortium (BRC) Like-Fo...
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Crude Oil Price to Decline Further Towards $55.00?

Key Highlights Crude oil price struggled to move above the $58.00-59.00 levels and moved down against the US dollar. There was a break below a major bullish trend line with support at $57.40 on the 4-hours chart of XTI/USD. The US Services PMI in Nov 2017 decreased from the preliminary reading of 54.7 to 54.5. Today, the US ADP Employment Change will be released f...
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GBP/USD – Can British Pound Break 1.3600 Vs US Dollar?

Key Highlights The British Pound is moving higher and is currently trading above the 1.3420 support against the US Dollar. There is a crucial bullish trend line forming with support at 1.3430 on the 4-hours chart of GBP/USD. The US Factory Orders declined by 0.1% in Oct 2017, less than the forecast of -0.4%. Today, the UK Services PMI for Nov 2017 will be released...
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