AUDUSD broke below 0.6860 support, suggesting that the upside movement from 0.6723 had completed at 0.6882 already. Further decline could be expected in the coming days and next target would be at 0.6820 area. Resistance is at 0.6882, only break above this level could trigger another rise towards 0.6950.

USDJPY remains in the uptrend from 106.48, the pullback from 108.93 is likely consolidation for the uptrend. As long as 108.03 support holds, the upside movement could be expected to resume, further rise to 109.50 area is still possible.

USDCAD stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 1.3347. As long as the trend line resistance holds, the bounce from 1.3070 could be treated as consolidation for the downtrend, further decline towards 1.3000 is still possible. On the upside, a breakout of the trend line resistance … Continue reading “USDCAD Daily Analysis – October 23, 2019”

GBPUSD broke below the rising trend line on the 4-hour chart and is now facing 1.2839 support, a breakdown below this level would indicate that the uptrend from 1.2195 had completed at 1.3012 already, then further decline towards 1.2600 could be seen. On the upside, as long as 1.2839 support holds, the pullback from 1.3012 … Continue reading “GBPUSD Daily Analysis – October 23, 2019”

EURUSD is facing 1.1110 support. As long as this level holds, the uptrend from 1.0879 could be expected to continue and next target would be at 1.1250 area. On the downside, a breakdown below 1.1110 support would indicate that lengthier consolidation for the uptrend is needed, then deeper decline towards the bullish trend line on … Continue reading “EURUSD Daily Analysis – October 23, 2019”

EURUSD stays above a bullish trend line on the 4-hour chart and remains in the uptrend from 1.0879. As long as the trend line support holds, the upside movement could be expected to continue and next target would be at 1.1250 area. Near term support is at 1.1110, a breakdown below this level could bring … Continue reading “EURUSD Daily Analysis – October 22, 2019”

GBPUSD extended its upside movement from 1.2195 to as high as 1.3012. As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.3150 area. Key support is at 1.2839, a breakdown below this level would indicate … Continue reading “GBPUSD Daily Analysis – October 22, 2019”

AUDUSD’s upside movement from 0.6723 extended to as high as 0.6882. As long as 0.6860 support holds, the upside movement could be expected to continue and next target would be at 0.6900 area. On the downside, a breakdown below 0.6860 support would indicate that the upside movement is complete, then the pair would find next … Continue reading “AUDUSD Daily Analysis – October 22, 2019”

USDJPY moved sideways in a trading range between 108.03 and 108.93. As long as 108.03 key support holds, the sideways movement could be treated as consolidation for the uptrend from 106.48, further rise to 109.50 area is still possible after the consolidation.

USDCAD extended its downside movement from 1.3347 to as low as 1.3070. As long as the price is below the bearish trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.3050 area. Only a clear break above the trend line resistance could signal completion … Continue reading “USDCAD Daily Analysis – October 22, 2019”