USDJPY Daily Analysis – January 31, 2020

USDJPY extended its downside movement from 110.28 to as low as 108.58. As long as 109.26 resistance holds, the downside movement could be expected to continue and next target would be at 108.00 area. On the upside, a breakout of 109.26 resistance would indicate that the downside movement had completed at 108.58 already, then the … Continue reading “USDJPY Daily Analysis – January 31, 2020”

AUDUSD Daily Analysis – January 31, 2020

AUDUSD’s downside movement from 0.6933 extended to as low as 0.6699. 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 0.6650 area. On the upside, a breakout of the channel resistance would indicate that the … Continue reading “AUDUSD Daily Analysis – January 31, 2020”

GBPUSD Daily Analysis – January 31, 2020

GBPUSD formed a triangle pattern on the 4-hour chart. A break of the upper border of the pattern could take the price to next resistance level at 1.3280, followed by 1.3400. On the downside, a breakdown below the lower border of the pattern would indicate that the downtrend from 1.3514 has resumed, then further decline … Continue reading “GBPUSD Daily Analysis – January 31, 2020”

EURUSD Daily Analysis – January 31, 2020

EURUSD is facing the resistance of the falling trend line on the 4-hour chart. As long as the trend line resistance holds, the bounce from 1.0992 could be treated as consolidation for the downtrend from 1.1172, another fall towards 1.0950 is possible after the consolidation. On the upside, a breakout of the trend line resistance … Continue reading “EURUSD Daily Analysis – January 31, 2020”

EURUSD Daily Analysis – January 30, 2020

EURUSD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 1.1172. As long as the trend line resistance holds, the bounce from 1.0992 could be treated as consolidation for the downtrend, and further decline to 1.0950 area is still possible after the consolidation. On the upside, a breakout … Continue reading “EURUSD Daily Analysis – January 30, 2020”