USDCAD is now in the downtrend from 1.3269, further decline would likely be seen in the coming days and next target would be at 1.3190 area. Resistance is at 1.3269, a breakout of this level could trigger another rise towards 1.3350.

USDJPY moved sideways in a trading range between 108.42 and 109.00. Support is at the bottom of the price channel on the 4-hour chart, a breakdown below the channel support could take the price to 107.50 area. Resistance is at 109.00, above here could trigger another rise towards 110.00.

AUDUSD broke below 0.6812 support, suggesting that the upside movement from 0.6754 had completed at 0.6861 already. 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 0.6770 area. Only break above the channel resistance could … Continue reading “AUDUSD Daily Analysis – December 11, 2019”

GBPUSD extended its upside movement from 1.2822 to as high as 1.3214. Further rise is still possible after consolidation and next target would be at 1.3250 area. Support is located at the bottom of the price channel on the 4-hour chart, only break below the channel support could bring the price back to 1.2920 area.

EURUSD’s bounce from 1.1039 extended to as high as 1.1097. Further rise to test 1.1116 resistance is possible, a break of this level could take the price to 1.1160 area. Support is at 1.1039, below this level could trigger another fall towards 1.1000.

USDCAD broke below 1.3225 support, suggesting that the upside movement from 1.3158 had completed at 1.3269 already. Further decline would likely be seen and next target would be at 1.3180 area. Resistance is at 1.3269, only break above this level could trigger another rise towards 1.3350.

USDJPY is testing the support of the rising price channel on the 4-hour chart. A breakdown below the channel support would confirm that the upside movement from 104.44 (Aug 26 low) had completed at 109.72 already, then the following downside movement could take the price to 107.00 area. Near term resistance is at 109.00, above … Continue reading “USDJPY Daily Analysis – December 10, 2019”

AUDUSD continued its sideways movement in a narrow range between 0.6812 and 0.6861. The sideways movement is likely consolidation for the uptrend from 0.6754, a breakout of 0.6861 resistance could trigger further upside movement towards 0.6900.

GBPUSD stays in a bullish price channel on the 4-hour chart and remains in the uptrend from 1.2822. As long as the channel support holds, the upside movement could be expected to continue and next target would be at 1.3250 area. On the downside, a breakdown below the channel support would indicate that the uptrend … Continue reading “GBPUSD Daily Analysis – December 10, 2019”

EURUSD is now in the downtrend from 1.1116, further decline could be expected after a minor consolidation and next target would be at 1.1015 area. Resistance is at 1.1116, only break above this level could trigger another rise towards 1.1200.