USDJPY Daily Analysis – August 6, 2020

USDJPY stays below a falling trend line on the 4-hour chart and remains in the downtrend from 108.16. As long as the trend line resistance holds, the bounce from 104.18 could be treated as corrective consolidation for the downtrend, and further decline towards 103.00 is possible after the consolidation. Only break above the trend line … Continue reading “USDJPY Daily Analysis – August 6, 2020”

USDCAD Daily Analysis – August 6, 2020

USDCAD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 1.3715. As long as the channel resistance holds, the downside movement could be expected to continue and next target would be at 1.3150 area. Key resistance is at 1.3458, only break above this level could signal completion of … Continue reading “USDCAD Daily Analysis – August 6, 2020”

EURUSD Daily Analysis – August 5, 2020

EURUSD is forming a sideways consolidation in a trading range between 1.1695 and 1.1908. As long as the price is above the rising trend line on the 4-hour chart, the upside movement from 1.1168 could be expected to resume, and further rise to 1.2000 area is still possible after the consolidation. On the downside, a … Continue reading “EURUSD Daily Analysis – August 5, 2020”

AUDUSD Daily Analysis – August 5, 2020

AUDUSD moved sideways in a trading range between 0.7063 and 0.7227. As long as the price is above the rising trend line on the 4-hour chart, the sideways movement could be treated as consolidation for the uptrend from 0.6776, and further rise towards 0.7300 is possible. Key support is at 0.7063, only break below this … Continue reading “AUDUSD Daily Analysis – August 5, 2020”

USDJPY Daily Analysis – August 5, 2020

USDJPY failed to break above the resistance of the falling trend line on the 4-hour chart and pulled back from 106.47. As long as the trend line resistance holds, the downtrend from 108.16 could be expected to resume and further decline towards 103.00 is still possible. Only break above the trend line resistance could signal … Continue reading “USDJPY Daily Analysis – August 5, 2020”

USDCAD Daily Analysis – August 5, 2020

USDCAD broke below 1.3330 support and extended its downside movement from 1.3715 to as low as 1.3282. Further decline could be expected in the coming days and next target would be at 1.3200 aera. Near term resistance is at 1.3370, a break of this level could bring the price back towards the falling trend line … Continue reading “USDCAD Daily Analysis – August 5, 2020”