USDCAD Daily Analysis – February 28, 2020

USDCAD stays above a rising trend line on the 4-hour chart and remains in the uptrend from 1.3201. As long as the trend line support holds, the upside movement could be expected to continue and next target would be at 1.3460 area. Near term support is at 1.3360, a breakdown below this level could bring … Continue reading “USDCAD Daily Analysis – February 28, 2020”

USDJPY Daily Analysis – February 28, 2020

USDJPY extended its downside movement from 112.22 to as low as 109.32. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 109.00 area, only break above the trend line resistance could signal completion of the … Continue reading “USDJPY Daily Analysis – February 28, 2020”

AUDUSD Daily Analysis – February 28, 2020

AUDUSD stays in a bearish price channel on the 4-hour chart chart and remains in the downtrend from 0.6749. As long as the channel resistance holds, the downside movement could be expected to continue and next target would be at 0.6500 area. On the upside, a breakout of the channel resistance would indicate that consolidation … Continue reading “AUDUSD Daily Analysis – February 28, 2020”

USDCAD Daily Analysis – February 27, 2020

USDCAD extended its upside movement from 1.3201 to as high as 1.3346, breaking above 1.3328 resistance. Further rise could be expected after a minor consolidation and next target would be at 1.3400 area. Support is located at that rising trend line on the 4-hour chart, only break below the trend line support could signal completion … Continue reading “USDCAD Daily Analysis – February 27, 2020”

AUDUSD Daily Analysis – February 27, 2020

AUDUSD broke below 0.6585 support and extended its downside movement from 0.6749 to as low as 0.6542. 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 0.6500 area, only break above the channel resistance could … Continue reading “AUDUSD Daily Analysis – February 27, 2020”

EURUSD Daily Analysis – February 27, 2020

EURUSD broke above the resistance of the falling price channel on the 4-hour chart, suggesting that the downside movement from 1.1239 (Dec 31, 2019 high) had completed at 1.0778 already. Further rally would likely be seen and next target would be at 1.0950 area. Near term support is at 1.0850, below this level could trigger … Continue reading “EURUSD Daily Analysis – February 27, 2020”