USDCAD stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 1.3564. As long as the trend line resistance holds, the bounce from 1.3240 could be treated as consolidation for the downtrend, further decline to 1.3200 is still possible after the consolidation. Key resistance is at 1.3308, only break … Continue reading “USDCAD Daily Analysis – June 12, 2019”

USDJPY is in consolidation for the downtrend from 112.40. Range trading between 107.81 and 109.00 would likely be seen in a couple of days. As long as 109.00 resistance holds, the downside movement could be expected to resume, further decline towards 107.00 is still possible after the range trading.

AUDUSD is now in the downtrend from 0.7021. Further decline could be expected after a minor consolidation and next target would be at 0.6900 area. Near term resistance is at 0.6990, only break above this level could trigger another rise towards 0.7050.

GBPUSD is now in the downtrend from 1.2762. Another fall could be expected after a corrective consolidation and next target would be at 1.2558 previous low. Resistance is at 1.2762, only break above this level could trigger another rise towards 1.2800.

EURUSD remains in the uptrend from 1.1116 the pullback from 1.1347 is likely consolidation for the uptrend. As long as the price is above the bullish trend line on the 4-hour chart, the upside movement could be expected to resume, a break of 1.1347 resistance could take the price to 1.1400 area. Near term support … Continue reading “EURUSD Daily Analysis – June 12, 2019”

USDCAD’s downside movement from 1.3564 extended to as low as 1.3240. 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 1.3200 area. Near term resistance is at 1.3285, above this level could bring the price … Continue reading “USDCAD Daily Analysis – June 11, 2019”

USDJPY’s bounce from 107.81 extended to as high as 108.71, breaking above 108.61 resistance. Further rally could be expected and next target would be at 109.00 area. However, as long as 109.00 resistance holds, the bounce could be treated as consolidation for the downtrend from 112.40, another fall towards 107.00 is still possible after the … Continue reading “USDJPY Daily Analysis – June 11, 2019”

AUDUSD broke below 0.6962 key support, suggesting that the upside movement from 0.6864 had completed at 0.7021 already. Further decline could be expected in the coming days and next target would be at 0.6900 area. Near term resistance is at 0.6990, only break above this level could trigger another rise towards 0.7050.

GBPUSD broke below 1.2668 support, suggesting that the short term uptrend from 1.2558 had completed at 1.2762 already. Further decline could be expected in the coming days and next target would be at 1.2558 previous low. Near term resistance is at 1.2710, only break above this level could trigger another rise towards 1.2800.

EURUSD stays above a bullish trend line on the 4-hour chart and remains in the uptrend from 1.1116. As long as the trend line support holds, the pullback from 1.1347 could be treated as consolidation for the uptrend, further rise to 1.1400 area is possible after the consolidation. Near term support is at 1.1290, a … Continue reading “EURUSD Daily Analysis – June 11, 2019”