EURUSD moved sideways in a trading range between 1.0778 and 1.0821. As long as 1.0821 resistance holds, the downside movement from 1.1095 could be expected to continue and next target would be at 1.0700 area. On the upside, a breakout of 1.0821 resistance would suggest that the downside movement had completed at 1.0778 already, then … Continue reading “EURUSD Daily Analysis – February 21, 2020”

GBPUSD extended its downside movement from 1.3069 to as low as 1.2848, breaking below 1.2871 support. As long as the price is in the falling price channel on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2800 area. On the upside, a breakout of the channel … Continue reading “GBPUSD Daily Analysis – February 21, 2020”

AUDUSD’s downside movement from 0.6749 extended to as low as 0.6591. Further decline could be expected after a minor consolidation and next target would be at 0.6550 area. Resistance is at 0.6640, as long as this level holds, the downtrend will continue.

USDJPY extended its upside movement from 108.30 to as high as 112.22. Further rise would likely be seen after a minor consolidation and next target would be at 113.00 area. Near term support is at 111.20, only break below this level could signal completion of the uptrend.

USDCAD moved sideways in a trading range between 1.3211 and 1.3278. As long as 1.3278 resistance holds, the price action in the range could be treated as consolidation for the downtrend from 1.3328, another fall towards 1.3180 is possible after the consolidation. On the upside a break of 1.3278 would indicate that the downtrend had … Continue reading “USDCAD Daily Analysis – February 21, 2020”

AUDUSD extended its downside movement from 0.6749 to as low as 0.6665, facing 0.6661 support, a breakdown below this level could trigger further downside movement to 0.6600 area. Near term resistance is at 0.6700, a break of this level could bring the price back towards the top of the price channel on the 4-hour chart.

USDJPY’s upside movement from 108.30 extended to as high as 111.58. Further rise could be expected after a minor consolidation and next target would be at 112.00 area. Near term support is at 110.80, as long as this level holds, the uptrend will continue.

USDCAD broke below 1.3224 support, suggesting that the downtrend from 1.3328 has resumed. Further decline would likely be seen and next target would be at 1.3180 area. Resistance is located at the falling trend line on the 4-hour chart, only break above the trend line resistance could signal completion of the downtrend.

EURUSD extended its downside movement from 1.1095 to as low as 1.0782. As long as 1.0861 resistance holds, the downside movement could be expected to continue and next target would be at 1.0700 area, only break above 1.0861 resistance could signal completion of the downtrend.

GBPUSD extended its downside movement from 1.3069 to as low as 1.2907, facing the support level at 1.2871, a breakdown below this level would aim 1.2800 area. Resistance is at 1.2960, only break above this level could bring the price back towards 1.3050.