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”

AUDUSD is facing 0.6735 support, a breakdown below this level could trigger further downside movement towards 0.6677. Near term resistance is at 0.6770, above this level could take the price to test 0.6821 key resistance.

USDJPY moved sideways in a narrow range between 106.16 and 106.69. Support is at 106.16, below this level could take the price to 105.50 area. Resistance is at 106.69, a breakout of this level could trigger further upside movement to key resistance at 107.08.

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.

GBPUSD broke above 1.2249 resistance, suggesting that the downside movement from 1.2578 had completed at 1.2014 already. Further rally would likely be seen in a couple of days and next target would be at 1.2350 area. Near term support is at 1.2200, below this level could trigger another fall towards 1.2000.

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”

GBPUSD moved sideways in a trading range between 1.2014 and 1.2249. As long as 1.2249 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.2578, one more fall towards 1.1950 is still possible after the consolidation. Only break above 1.2249 resistance could signal completion of the downtrend.

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”

USDJPY broke below the rising trend line on the 4-hour chart, suggesting that the short term uptrend from 105.65 is complete. Another fall towards 105.04 would likely be seen over the next several days.

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”