USDCAD Daily Analysis – August 30, 2019

USDCAD is testing the resistance of the falling price channel on the 4-hour chart. As long as the channel resistance holds, the downside movement from 1.3345 could be expected to continue and next target would be at 1.3180 area. On the upside, a clear break above the channel resistance would indicate that the upside movement … Continue reading “USDCAD Daily Analysis – August 30, 2019”

AUDUSD Daily Analysis – August 30, 2019

AUDUSD is facing the support of the lower border of the triangle pattern on the 4-hour chart, a breakdown below could take the price to 0.6600 area. On the other side, a breakout of the upper border of the pattern would suggest that the downtrend had completed at 0.6677 already, then further rally to 0.6900 … Continue reading “AUDUSD Daily Analysis – August 30, 2019”

USDCAD Daily Analysis – August 29, 2019

USDCAD is facing the resistance of the falling price channel on the 4-hour chart. A break of the channel resistance could signal resumption of the uptrend from 1.3015, then next target would be at 1.3400 area. On the downside, as long as the channel resistance holds, the bounce from 1.3224 could be treated as consolidation … Continue reading “USDCAD Daily Analysis – August 29, 2019”

AUDUSD Daily Analysis – August 29, 2019

AUDUSD formed a triangle pattern on its 4-hour chart. The triangle pattern is likely consolidation for the downtrend from 0.7081, a breakdown below the bower border of the pattern could take the price to 0.6600 area. On the upside, above the upper border of the pattern would indicate that the downtrend had completed at 0.6677 … Continue reading “AUDUSD Daily Analysis – August 29, 2019”

GBPUSD Daily Analysis – August 29, 2019

GBPUSD broke below the rising trend line on the 4-hour chart, suggesting that the short term uptrend from 1.2014 had completed at 1.2309 already. Deeper decline could be expected in the coming days and next target would be at 1.2060, followed by 1.2000. Resistance is at 1.2250, above this level could trigger another rise towards … Continue reading “GBPUSD Daily Analysis – August 29, 2019”

EURUSD Daily Analysis – August 29, 2019

EURUSD extended its downside movement from 1.1164 to as low as 1.1073. As long as 1.1097 resistance holds, the downside movement could be expected to continue and next target would be at 1.1050 support. On the upside, a breakout of 1.1097 resistance would suggesting that the downside movement is complete, then another rise towards 1.1150 … Continue reading “EURUSD Daily Analysis – August 29, 2019”