USDCAD stays below a falling trend line on the 4-hour chart and remains in the downtrend from 1.3347. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 1.3100 area. On the upside, a break of the trend line resistance would indicate that … Continue reading “USDCAD Daily Analysis – October 21, 2019”

USDJPY is in consolidation for the uptrend from 106.48. Range trading between 108.03 and 108.93 would likely be seen in the coming days. As long as 108.03 support holds, the upside movement could be expected to resume, a breakout of 108.93 resistance could trigger another rise towards 109.50.

AUDUSD extended its upside movement from 0.6723 to as high as 0.6865. Further rise is still possible after a minor consolidation and next target would be at 0.6900 area. Near term support is at 0.6835, a breakdown below this level could bring the price back to 1.6800 area.

GBPUSD stays above a rising trend line on the 4-hour chart and remains in the uptrend from 1.2195. As long as the trend line support holds, the upside movement could be expected to continue and next target would be at 1.3150 area. Key support is at 1.2749, only break below this level could signal completion … Continue reading “GBPUSD Daily Analysis – October 21, 2019”

EURUSD’s upside movement from 1.0879 extended to as high as 1.1170. Further rise is still possible after a minor consolidation and next target would be at 1.1200 area. Near term support is at 1.1110, a breakdown below this level could bring the price back towards the rising trend line on the 4-hour chart.

USDCAD broke below 1.3133 support, suggesting that the downtrend from 1.3382 has resumed. Further decline could be expected in a couple of weeks and next target would be at 1.3000 area. Near term resistance is at 1.3200, as long as this level holds, the downtrend will continue.

USDJPY remains in the uptrend from 104.44, further rise could be expected in a couple of weeks and next target would be at 110.00 area. Near term support is at 108.00, below this level could trigger further downside movement towards 107.00.

AUDUSD’s bounce from 0.6670 extended to as high as 0.6856. Further rally would likely be seen next week and the target would be at the falling trend line on the daily chart. However, as long as the trend line resistance holds, the bounce would possibly be consolidation for the downtrend from 0.7295, another fall towards … Continue reading “AUDUSD Weekly Analysis – October 20, 2019”

GBPUSD’s upside movement from 1.1958 extended to as high as 1.2989. Further rise is still possible after a minor consolidation and next target would be at 1.3200 area. Near term support is at 1.2820, below this level would indicate that consolidation for the uptrend is underway, then the pair would find next support at around … Continue reading “GBPUSD Weekly Analysis – October 20, 2019”

EURUSD is now in the uptrend from 1.0879, further rally could be expected in a couple of weeks and next target would be at 1.1250 area. Near term support is at 1.1100, below this level could bring the price back to 1.1050 zone.