USDCAD extended its downside movement from 1.3467 to as low as 1.3250. Key resistance is at 1.3370, as long as this level holds, the downside movement could be expected to continue and next target would be at 1.3150 area. Only a break of 1.3370 resistance could signal completion of the downtrend.
USDJPY is forming a triangle pattern on the 4-hour chart. The triangle pattern is likely consolidation for the uptrend from 105.05 (Jan 3 low), a breakout of the upper border of the pattern could trigger further upside movement towards 113.00 area. On the other side, a breakdown below lower border of the pattern could take … Continue reading “USDJPY Daily Analysis – March 20, 2019”
AUDUSD broke below the bullish support trend line on the 4-hour chart, suggesting that the short term uptrend from 0.7003 had completed at 0.7119 already. Further decline is still possible and next target would be at 0.7000 area. Resistance is at 0.7090, only break above this level could trigger another rise towards 0.7170.
GBPUSD remains in the uptrend from 1.2960, the fall from 1.3381 is likely consolidation for the uptrend. Support is at 1.3184, as long as this level holds, another rise towards 1.3500 could be expected after the consolidation. On the downside, a breakdown below 1.3184 support would indicate that the upside movement had completed at 1.3381 … Continue reading “GBPUSD Daily Analysis – March 20, 2019”
EURUSD’s upside movement from 1.1176 extended to as high as 1.1361. Further rise is still possible and next target would be at 1.1400 area. Near term support is at 1.1320, a breakdown below this level could bring the price back towards next support level at 1.1294.
USDCAD is in consolidation for the downtrend from 1.3467. Range trading between 1.3286 and 1.3390 would likely be seen in the coming days. Resistance is at 1.3390, as long as this level holds, the downtrend could be expected to resume and further decline to 1.3050 area is possible after the consolidation. Only a break of … Continue reading “USDCAD Daily Analysis – March 19, 2019”
USDJPY broke below the bottom support trend line of the price channel on the 4-hour chart, suggesting that the short term uptrend from 110.77 had completed at 111.90 already. Deeper decline to test 110.77 support is possible in the coming days. Resistance is at 111.65, above this level could trigger another rise towards 112.00.
AUDUSD broke above 0.7097 resistance and extended its upside movement from 0.7003 to as high as 0.7119. As long as the price is above the bullish trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 0.7170 area. Only a breakdown below the trend line … Continue reading “AUDUSD Daily Analysis – March 19, 2019”
GBPUSD’s fall from 1.3381 extended to as low as 1.3184. Deeper decline is still possible in the coming days and next target would be at 1.3100 area. Resistance is now at 1.3300, only a break of this level could trigger another bullish movement towards 1.3500.
EURUSD extended it upside movement from 1.1176 to as high as 1.1359. Further rise could be expected in a couple of days and next target would be at 1.1400 area. Key support is at 1.1294, only a breakdown below this level could signal completion of the uptrend.