EURUSD stays in a rising price channel on the 4-hour chart and remains in the uptrend from 1.1085. As long as the channel support holds, the pullback from 1.1172 could be treated as consolidation for the uptrend and further rise to 1.1200 area is still possible after the consolidation. On the downside, a breakdown below … Continue reading “EURUSD Daily Analysis – January 17, 2020”

GBPUSD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 1.3284. As long as the channel resistance holds, the downtrend could be expected to resume and further decline to 1.2850 area is possible after the consolidation. On the upside, a breakout of the channel resistance would indicate that … Continue reading “GBPUSD Daily Analysis – January 17, 2020”

AUDUSD extended its upside movement from 0.6848 to as high as 0.6933. Further rise is still possible and next target would be at 0.6960 area. Near term support is at 0.6877, a breakdown below this level could trigger another fall towards 0.6800.

USDJPY broke above 110.20 resistance, suggesting that the uptrend from 107.65 has resumed. Further rise could be expected in a couple of days and next target would be at 110.50 area. Support is now at 109.78, a breakdown below this level could bring the price back to 109.00 area.

USDCAD is testing 1.3028 support, a breakdown below this level could signal resumption of the downtrend from 1.3104, then further decline towards 1.2950 could be seen. Near term resistance is at 1.3080, a break of this level could trigger another rise towards 1.3160.

EURUSD broke above the top of the price channel on the 4-hour chart, suggesting that the downside movement from 1.1239 had completed at 1.1085 already. Further rally would likely be seen and next target would be at 1.1200 area. Near term support is at 1.1110, a breakdown below this level could trigger another fall towards … Continue reading “EURUSD Daily Analysis – January 16, 2020”

GBPUSD is facing the resistance of the falling trend line on the 4-hour chart. As long as the trend line resistance holds, the bounce from 1.2954 could be treated as consolidation for the downtrend from 1.3284 and further decline to 1.2850 area is still possible. On the upside, a breakout of the trend line resistance … Continue reading “GBPUSD Daily Analysis – January 16, 2020”

AUDUSD is facing 0.6919 resistance, a breakout of this level could trigger further upside movement from 0.6848 to 0.6950 area. Near term support is at 0.6875, a breakdown below this level would indicate that the downtrend from 0.7031 has resumed, then next target would be at 0.6800 area.

USDJPY is in consolidation for the uptrend from 107.65, range trading between 109.40 and 110.20 would likely be seen in a couple of days. As long as 109.40 support holds, the uptrend could be expected to resume, a breakout of 110.20 could trigger further upside movement to 110.50 area. On the downside, a breakdown below … Continue reading “USDJPY Daily Analysis – January 16, 2020”

USDCAD is facing 1.3028 support, a breakdown below this level could take the price to 1.2950 area. Near term resistance is at 1.3080, a breakout of this level could signal resumption of the uptrend from 1.2951, then next target would be at 1.3160 area.