AUD/USD Recovery Facing Uphill Task

Key Highlights The Aussie Dollar found support near 0.7060 and rebounded above 0.7100 against the US Dollar. A crucial bearish trend line is formed with resistance near 0.7160 on the 4-hours chart of AUD/USD. The US Housing Starts in Feb 2019 (MoM) fell 8.7%, down from the last +11.7% (revised). The US Trade Balance in Jan 2019 could post a deficit of $-57.0B, dow...
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AUD/USD Signaling Bearish Continuation Below 0.7150

Key Highlights The Aussie Dollar declined recently and broke the 0.7200 support against the US Dollar. There was a break below a major contracting triangle with support at 0.7208 on the 4-hours chart of AUD/USD. The US Trade Balance in Nov 2018 posted a deficit of $-49.3B, less than the $-54.0B forecast. The US Initial Jobless Claims for the week ending Feb 02, 20...
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Gold Price In Significant Uptrend Above $1,300

Key Highlights Gold price rallied and broke the $1,300 resistance before correcting lower against the US Dollar. There is a short term bearish trend line formed with resistance at $1,318 on the 4-hours chart of XAU/USD. The US Services PMI in Jan 2019 declined from 54.4 to 54.2. The US Trade Balance for Nov 2018 will be released today, which could post a deficit o...
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GBP/USD Gaining Strength Above 1.2720

Key Highlights The British Pound broke the key 1.2680 and 1.2720 resistances against the US Dollar. There was a break above a short term bearish trend line at 1.2740 on the 4-hours chart of GBP/USD. The US ISM Non-Manufacturing Index in Dec 2018 declined from 60.7 to 57.6. Today in the US, the Trade Balance figure for Nov 2018 will be released, which is forecasted...
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USD/CHF Recovery Could Be Capped Near 0.9780

Key Highlights The US Dollar found support near 0.9650 and recovered against the Swiss Franc. There is a key bearish trend line in place with resistance at 0.9775 on the 4-hour chart of USD/CHF. The Swiss Consumer Price Index remained flat in August 2018 (MoM). Today, the US Trade Balance figure will be released for July 2018, which is forecasted to post a deficit...
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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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GBP/USD is Approaching Crucial Resistance

Key Highlights The British Pound started a new upside wave and traded above 1.3800 against the US Dollar. There is a crucial bearish trend line forming with resistance at 1.3980 on the 4-hours chart of GBP/USD. The US Factory orders declined 1.4% in Jan 2018, more than the forecast of -1.3%. The US Trade Balance figure for Jan 2018 will be released today, which is...
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AUDUSD – Aussie Dollar Struggle To Continue Vs US Dollar

Key Highlights The Aussie Dollar remained under pressure with resistance at 0.7550 and 0.7460 against the US Dollar. There is a monster bearish trend line resistance formed at 0.7540-50 on the 4-hours chart of AUDUSD. Today in Australia, the trade balance for March 2017 released by the Australian Bureau of Statistics posted a trade surplus of 3,107M. Today in the ...
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GBPUSD – Post Brexit Impact Continues On British Pound

GBPUSD – Post Brexit Impact Continues On British Pound Key Highlights There was no relief for the British Pound, as it continued to weaken against most major currencies. The GBPUSD pair created a new low this week, and looks set for a test of the 1.2800 handle. Earlier, the British Retail Consortium (BRC) Shop Price Index was released, which came in at -2% in June...
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