EURUSD broke below the rising trend line on the 4-hour chart, suggesting that the upside movement from 1.0635 had completed at 1.1147 completed. Further decline is still possible after consolidation and next target would be at 1.0800 area. Resistance is at 1.1147, only break above this level could trigger another rise towards 1.1300.

GBPUSD stays in a rising trend line on the 4-hour chart and remains in the uptrend from 1.1409. As long as the trend line support holds, the upside movement could be expected to continue and next target would be at 1.2800 area. Near term support is at 1.2243, a breakdown below this level could bring … Continue reading “GBPUSD Daily Analysis – April 1, 2020”

AUDUSD stays above a rising trend line on the 4-hour chart and remains in the uptrend from 0.5507. As long as the trend line support holds, the upside movement could be expected to continue and next target would be at 0.6400 area. On the downside, only break below the trend line support could bring the … Continue reading “AUDUSD Daily Analysis – April 1, 2020”

USDJPY moved sideways in a trading range between 107.12 and 108.72. As long as 108.72 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 111.71, a breakdown below 107.12 support could trigger another fall towards 105.00. On the upside, a breakout of 108.72 resistance would indicate that the downside movement … Continue reading “USDJPY Daily Analysis – April 1, 2020”

USDCAD remains in the uptrend from 1.3920, the pullback from 1.4348 is likely corrective consolidation for the uptrend. Another rise would likely be seen and a break of 1.4348 resistance could trigger another rise towards 1.4600. Support is at 1.3920, only break below this level could take the price to next support level at 1.3730.

USDJPY broke above 108.00 resistance, suggesting that the downside movement from 111.71 had completed at 107.12 already. Further rally would likely be seen in the coming days and next target would be at 110.00 area. Support is at 107.12, only break below this level could trigger another fall towards 106.00.

USDCAD’s downside movement from 1.4667 had completed at 1.3920 already. Further rally could be expected in the coming days and next target would be at 1.4450 area. Support is at 1.3920, only break below this level could trigger another fall towards 1.3600.

AUDUSD remains in the uptrend from 0.5507. As long as the price is above the rising trend line on the 4-hour chart, the pullback from 0.6199 could be treated as consolidation for the uptrend and further rise to 0.6400 area is still possible after the consolidation. On the downside, a breakdown below the trend line … Continue reading “AUDUSD Daily Analysis – March 31, 2020”

EURUSD stays above a rising trend line on the 4-hour chart and remains in the uptrend from 1.0635. As long as the trend line support holds, the pullback from 1.1147 could be treated as consolidation for the uptrend and further rise to 1.1260 area is still possible after the consolidation. Key support is at 1.0953, … Continue reading “EURUSD Daily Analysis – March 31, 2020”

GBPUSD pulled back from 1.2485. As long as the price is above the rising trend line on the 4-hour chart, the pullback could be treated as consolidation for the uptrend from 1.1409, further rise to 1.2800 is possible after the consolidation. Only break below the trend line support could signal completion of the uptrend.