USDCAD Daily Analysis – May 29, 2020

USDCAD extended its downside movement from 1.4048 to as low as 1.3727. The downside movement could be expected to continue and next target would be at 1.3600 area. Near term resistance is at 1.3840, a breakout of this level would indicate that the downside move had completed at 1.3727 already, then another rise towards the … Continue reading “USDCAD Daily Analysis – May 29, 2020”

USDJPY Daily Analysis – May 29, 2020

USDJPY moved sideways in a narrow range between 107.32 and 108.08. As long as 107.32 support holds, the sideways movement could be treated as consolidation for the uptrend from 105.98, further rise towards 109.00 area is possible after the consolidation. On the downside, a breakdown below 107.32 support would indicate that the upside movement had … Continue reading “USDJPY Daily Analysis – May 29, 2020”

AUDUSD Daily Analysis – May 29, 2020

AUDUSD moved sideways in a trading range between 0.6567 and 0.6680. As long as the price is above the rising trend line on the 4-hour chart, the sideways movement could be treated as consolidation for the uptrend from 0.6401, further rise to 0.6750 area is possible. Key support is at 0.6567, only break below this … Continue reading “AUDUSD Daily Analysis – May 29, 2020”

USDJPY Daily Analysis – May 28, 2020

USDJPY formed a sideways consolidation in a trading range between 107.32 and 108.08. The price action in the range is likely consolidation for the uptrend from 105.98, further rise to 108.50 area is possible after the consolidation. Support is at the bottom of the price channel on the 4-hour chart, only break below the channel … Continue reading “USDJPY Daily Analysis – May 28, 2020”

GBPUSD Daily Analysis – May 28, 2020

GBPUSD is facing the support of the rising trend line on the 4-hour chart. As long as the trend line support holds, the pullback from 1.2362 could be treated as consolidation for the uptrend from 1.2073, and further rise to 1.2450 area is possible after the consolidation. On the downside, a breakdown below the trend … Continue reading “GBPUSD Daily Analysis – May 28, 2020”

EURUSD Daily Analysis – May 28, 2020

EURUSD extended its upside movement from 1.0774 to as high as 1.1035, breaking above 1.1018 resistance. As long as the price is in the rising price channel on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.1100 area, only break below the channel support could signal … Continue reading “EURUSD Daily Analysis – May 28, 2020”