USDJPY is facing the resistance of the price channel on the 4-hour chart. As long as the channel resistance holds, the bounce from 107.20 could be treated as consolidation for the downtrend from 108.99, another fall towards 106.77 support is still possible after the consolidation. Only a clear break above the channel resistance could signal … Continue reading “USDJPY Daily Analysis – July 23, 2019”

USDCAD is facing 1.3144 resistance, a break of this level would indicate that the downside movement from 1.3432 had completed at 1.3015 already, then further rally to 1.3200 area could be seen. However, as long as 1.3144 resistance holds, the price action in the trading range between 1.3015 and 1.3144 could be treated as consolidation … Continue reading “USDCAD Daily Analysis – July 23, 2019”

EURUSD is testing 1.1193 support, a breakdown below this level could trigger further downside movement towards 1.1140. Near term resistance is at 1.1230, above this level could bring the price back towards 1.1285 resistance.

GBPUSD moved sideways in a trading range between 1.2381 and 1.2578. As long as 1.2578 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.2783, further decline towards 1.2300 is still possible. Only break above 1.2578 resistance could signal completion of the downtrend.

AUDUSD broke below the rising price channel on the 4-hour chart, suggesting that the upside movement from 0.6910 had completed at 0.7081 already. Deeper decline could be expected over the next several days and next target would be at 0.7000, followed by 0.6930. Near term resistance is at 0.7060, only a break of this level … Continue reading “AUDUSD Daily Analysis – July 23, 2019”

USDCAD moved sideways in a trading range between 1.3015 and 1.3144. As long as 1.3144 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.3432, further decline to 1.2950 area is still possible after the consolidation. Only break above 1.3144 resistance could signal completion of the downtrend.

EURUSD is facing 1.1193 support once again. A breakdown below this level could signal resumption of the downtrend from 1.1412, then next target would be at 1.1140 area. Near term resistance is at 1.1230, above this level could trigger another rise towards 1.1285 resistance.

GBPUSD failed to break above 1.2578 resistance and pulled back from 1.2558. However, another rise to retest this level is possible, a breakout could take the price to 1.2700 area. Near term support is at 1.2470, below this level could trigger another fall towards 1.2300.

AUDUSD stays in a rising price channel on the 4-hour chart and remains in the uptrend from 0.6910. As long as the channel support holds, the pullback from 0.7081 could be treated as consolidation for the uptrend, further rise to 0.7150 area is still possible after the consolidation. Only a clear break below the channel … Continue reading “AUDUSD Daily Analysis – July 22, 2019”

USDJPY stays in a falling price channel on the 4-hour chart and remains in the downtrend from 108.99. As long as the channel resistance holds, the bounce from 107.20 could be treated as consolidation for the downtrend, one more fall towards 106.77 is still possible after the consolidation. Only a clear break above the channel … Continue reading “USDJPY Daily Analysis – July 22, 2019”