USDCAD extended its upside movement from 1.2951 to as high as 1.3160. Further rise is still possible and next target would be at 1.3200 area. Near term support is at 1.3120, below this level could bring the price back towards the rising trend line on the 4-hour chart.

USDJPY broke below 109.78 support, suggesting that the upside movement from 107.65 had completed at 110.28 already. Further decline could be expected in the coming days and next target would be at 109.00 area. Near term resistance is at 110.10, above this level could trigger another rise towards 110.80.

AUDUSD broke above the falling trend line on the 4-hour chart, suggesting that the downtrend from 0.6933 had completed at 0.6826 already. Further rally could be expected in a couple of days and next target would be at 0.6900 area. Support is at 0.6826, only a breakdown below this level could trigger another fall towards … Continue reading “AUDUSD Daily Analysis – January 23, 2020”

GBPUSD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 1.3284 had completed at 1.2954 already. Further rally could be expected in a couple of days and next target would be at 1.3250 area. Near term support is at 1.3030, below this level could trigger another fall towards … Continue reading “GBPUSD Daily Analysis – January 23, 2020”

EURUSD extended its downside movement from 1.1172 to as low as 1.1070. Further decline could be expected after consolidation and next target would be at 1.1040 area. Resistance is at 1.1118, a breakout of this level could bring the price back into 1.1160 zone.

USDCAD broke above 1.3079 resistance, suggesting that the uptrend from 1.2951 has resumed. Further rise could be expected and next target would be at 1.3150 area. Key support is at 1.3028, a breakdown below this level could trigger another fall towards 1.2950.

USDJPY continued its sideways movement in a trading range between 109.78 and 110.28. The sideways movement is likely consolidation for the uptrend from 107.65, further rise to 110.80 is possible after the consolidation. Support is at 109.78, only a breakdown below this level could bring the price back to 109.00 area.

AUDUSD extended its downside movement from 0.6933 to as low as 0.6826, breaking below 0.6848 support. 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 0.6800 area. On the upside, a breakout of the trend … Continue reading “AUDUSD Daily Analysis – January 22, 2020”

GBPUSD moved sideways in a trading range between 1.2954 and 1.3118. 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 1.2800 area. Key resistance is at 1.3118, only break above this level could trigger another … Continue reading “GBPUSD Daily Analysis – January 22, 2020”

EURUSD remains in the downtrend from 1.1172, further decline would likely be seen and a breakdown below 1.1076 support could take the price to 1.1040 area. Near term resistance is at 1.1118, a break of this level could bring the price back into 1.1160 zone.