EUR/USD – Euro in Slow and Steady Downtrend Vs US Dollar

Key Highlights The Euro failed to recover this past week near 1.1680 against the US Dollar and declined. There was a break below an ascending channel with support at 1.1630 on the 4-hours chart of EUR/USD. This past Friday, the US nonfarm payrolls number for Oct 2017 was released, which posted 261K versus the 310K forecast. Today, the Euro Zone’s Services PMI fo...
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USD/JPY – Dollar In Steady Uptrend Vs Japanese Yen Ahead of NFP

Key Highlights The US Dollar remained elevated above the 113.50 pivot against the Japanese Yen. There is a crucial bullish trend line in place with support at 113.60 on the 4-hours chart of USD/JPY. The US Non-farm Productivity in Q3 2017 (Preliminary) rose 3%, compared with the +2.4% forecast. Today, the US nonfarm payrolls report for Oct 2017 will be released, w...
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GBP/USD – British Pound Reaching Key Support Vs US Dollar

Key Highlights The British Pound is in a major downtrend from the 1.3650 swing high against the US Dollar. There is a crucial descending channel forming with resistance near 1.3320 on the 4-hours chart of GBP/USD. UK’s British Retail Consortium (BRC) Shop Price Index in Sep 2017 decreased 0.1% (YoY). Today in the US, the ADP Employment Change figure will be rele...
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EUR/USD – Can Euro Hold 1.1860 Vs US Dollar?

Key Highlights The Euro remains in an uptrend, but struggling to hold gains against the US Dollar above 1.1850. There is a contracting triangle forming with support near 1.1860 on the 4-hours chart of EUR/USD. The US Services PMI for Sep 2017 (Prelim) released this past week posted a decline from 56.0 to 55.1. The US Manufacturing PMI preliminary reading (Sep 2017...
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USD/JPY – Can US Dollar Remain In Uptrend Vs Japanese Yen?

Key Highlights The US Dollar traded higher this week and moved above 111.50 against the Japanese Yen. There is a crucial ascending channel forming with support at 111.70 on the 4-hours chart of USD/JPY. US Initial Jobless Claims for the week ending 16th Sep 2017 decreased from the last revised reading of 282K to 259K. The US Manufacturing PMI preliminary reading (...
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EURJPY – Is This The Push Euro Needed Vs Japanese Yen?

Key Highlights The Euro made a nice upside move against the Japanese yen recently and broke the 119.80 resistance. The EURJPY pair also broke a couple of bearish trend lines near 119.80 and 120.00 on the 4-hours chart. In Japan, the National Consumer Price Index for Jan 2017 (YoY) released by the Statistics Bureau posted a rise of 0.4%, same as the forecast. The J...
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NZDUSD – Kiwi Dollar Remains at Risk for Key Reasons

NZDUSD – Kiwi Dollar Remains at Risk for Key Reasons Key Highlights The New Zealand Dollar traded lower against the US Dollar recently, and was under a lot of bearish pressure. There was a monster bullish trend line formed on the 4-hours chart of the NZDUSD pair, which was surpassed by sellers during the recent losses. The NZDUSD pair also traded below the 100 sim...
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USDJPY – US Dollar Primed For Lift-Off Vs Yen

USDJPY – US Dollar Primed For Lift-Off Vs Yen Key Highlights US Dollar traded higher vs the Japanese Yen, and it looks like there are chances or more gains in the near term. There is a support trend line, and there is a resistance trend line formed on the hourly chart of the USDJPY pair, acting as a catalyst for the USD. Today in the US, the Services Purchasing Ma...
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USDCAD – Buying Dips Favored?

USDCAD – Buying Dips Favored? Key Highlights             US Dollar traded higher against the Canadian Dollar during the Asian session, and moved closer to the 1.4300 area. The stated level in the USDCAD pair represents a major resistance and may ignite a short-term correction. Today in the US, the Services Purchasing Managers Index (PMI) will be released...
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USDCAD Might Trade Above 1.3300

Key Highlights US Dollar recovered sharply against the Canadian Dollar and looks set for more gains in the near term. In the US the Services Purchasing Managers Index (PMI) released by Markit Economics posted a decrease to 55.2, which was lower compared with the forecast of 56.0 in August 2015. US Consumer Confidence released by the Conference Board registered a massive...
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