USDCAD Daily Analysis – August 23, 2019

USDCAD stays above a rising trend line on the 4-hour chart and remains in the uptrend from 1.3015. As long as the trend line support holds, the upside movement could be expected to continue and a break of 1.3344 resistance could take the price to 1.3400 area. On the downside, a breakdown below the trend … Continue reading “USDCAD Daily Analysis – August 23, 2019”

EURUSD Daily Analysis – August 23, 2019

EURUSD moved sideways in a narrow range between 1.1063 and 1.1113. As long as 1.1113 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.1249, deeper decline to 1.1026 support is still possible after the consolidation. Only break above 1.1113 resistance could signal completion of the downtrend.

EURUSD Daily Analysis – August 21, 2019

EURUSD stays in a trading range between 1.1065 and 1.1113. The price action in the range is likely consolidation for the downtrend from 1.1249, further decline towards 1.1026 support is still possible. On the upside, a breakout of 1.1113 resistance would indicate that the downside movement had completed at 1.1065 already, then further rally to … Continue reading “EURUSD Daily Analysis – August 21, 2019”

AUDUSD Daily Analysis – August 21, 2019

AUDUSD formed a sideways movement in a trading range between 0.6735 and 0.6821. As long as 0.6735 support holds, the sideways movement could be treated as consolidation for the uptrend from 0.6677, further rise to 0.6900 area is still possible after the consolidation. However, a breakdown below 0.6735 support would confirm that the upside move … Continue reading “AUDUSD Daily Analysis – August 21, 2019”

USDCAD Daily Analysis – August 21, 2019

After touching 1.3344 resistance, USDCAD pulled back to 1.3300 area, suggesting that lengthier consolidation for the uptrend from 1.3015 is needed. Deeper decline would likely be seen in the coming days and the target would be at the rising trend line on the 4-hour chart. On the upside, a breakout of 1.3344 resistance would indicate … Continue reading “USDCAD Daily Analysis – August 21, 2019”