USDCAD failed to break below the rising trend line on the 4-hour chart and rebounded from 1.3195. However, another fall to test the trend line support is still possible, a breakdown below could take the price to 1.3100 area. On the upside, as long as the trend line support holds, one more rise towards 1.3350 … Continue reading “USDCAD Daily Analysis – August 13, 2019”

USDJPY’s downside movement from 109.31 extended to as low as 105.04. Further decline could be expected and next target would be at 104.50 area. Near term resistance is at 105.70, above this level could trigger another rise towards 107.00.

AUDUSD’s fall from 0.6821 extended to as low as 0.6744. However, the fall is likely corrective consolidation for the uptrend from 0.6677, another rise could be expected after the consolidation, a break of 0.6821 resistance could trigger another rise towards 0.6900.

GBPUSD’s downside movement from 1.2578 extended to as low as 1.2014. Further decline is still possible and next target would be at 1.1950 area. Near term resistance is at 1.2110, above this level could trigger another rise towards 1.2250.

EURUSD rebounded back into the trading range between 1.1167 and 1.1249 after touching 1.1167 support. Another rise to test 1.1249 resistance would likely be seen, a break of this level could signal resumption of the uptrend from 1.1026, then next target would be at 1.1300 area. Only a clear break below 1.1167 support could signal … Continue reading “EURUSD Daily Analysis – August 13, 2019”

USDCAD 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 1.3344 could be treated as consolidation for the uptrend from 1.3015, another rise towards 1.3350 is possible after the consolidation, only break below the trend line support could signal completion … Continue reading “USDCAD Daily Analysis – August 12, 2019”

USDJPY extended its downside movement from 109.31 to as low as 105.26. Further decline could be expected and next target would be at 105.00 area. Near term resistance is at 105.90, above this level could trigger another rise towards 107.00.

AUDUSD remains in the uptrend from 0.6677, the pullback from 0.6821 is likely consolidation for the uptrend, further rise could be expected after the consolidation and next target would be at 0.6867 resistance. Near term support is at 0.6760, below this level could bring the price back to 0.6700 area.

GBPUSD broke below 1.2077 support and extended its downside movement from 1.2578 to as low as 1.2014. Further decline is still possible and next target would be at 1.1900 area. Near term resistance is at 1.2080, above this level could trigger another rise towards 1.2250.

EURUSD moved sideways in a trading range between 1.1167 and 1.1249. As long as 1.1167 key support holds, the sideways move could be treated as consolidation for the uptrend from 1.1026, further rise to 1.1300 area is still possible after the consolidation, only a breakdown below 1.1167 support could signal completion of the uptrend.