USDCAD Daily Analysis – December 6, 2019

USDCAD’s downside movement from 1.3320 extended to as low as 1.3158. Further decline is still possible after a minor consolidation and next target would be at 1.3100 area. Near term resistance is at 1.3190, above this level would indicate that consolidation for the downtrend is underway, then range trading between 1.3158 and 1.3230 could be … Continue reading “USDCAD Daily Analysis – December 6, 2019”

AUDUSD Daily Analysis – December 6, 2019

AUDUSD moved sideways in a trading range between 0.6812 and 0.6861. As long as 0.6812 support holds, the sideways move could be treated as consolidation for the uptrend from 0.6754, further rise to 0.6900 area is possible after the consolidation. On the downside, a breakdown below 0.6812 support would indicate that the upside movement had … Continue reading “AUDUSD Daily Analysis – December 6, 2019”

USDJPY Daily Analysis – December 6, 2019

USDJPY stays in a rising price channel on the 4-hour chart. Another rise towards 110.00 would likely be seen over the next several days. Support is at 108.42, only a breakdown below this level would confirm that the upside movement from 104.44 (Aug 26 low) had completed at 109.72 already, then the following downside movement … Continue reading “USDJPY Daily Analysis – December 6, 2019”

USDCAD Daily Analysis – December 5, 2019

USDCAD dropped sharply to 1.3180 area, breaking below the bullish trend line on the 4-hour chart, suggesting that the upside movement from 1.3041 had completed at 1.3327 already. Further decline could be expected after a minor consolidation and next target would be at 1.3100 area. Near term resistance is at 1.3230, as long as this … Continue reading “USDCAD Daily Analysis – December 5, 2019”

AUDUSD Daily Analysis – December 5, 2019

AUDUSD remains in the uptrend from 0.6754, the pullback from 0.6861 is likely consolidation for the uptrend. As long as 0.6800 support holds, the upside movement could be expected to resume, and further rise to 0.6900 area is possible after the consolidation. Only a breakdown below 0.6800 support would indicate that the upside movement had … Continue reading “AUDUSD Daily Analysis – December 5, 2019”

USDJPY Daily Analysis – December 5, 2019

USDJPY broke above 108.85 resistance, suggesting that the downside movement from 109.72 had completed at 108.42 already. Further rally could be expected in the coming days and next target would be at 109.50 area. Support is located at the bottom of price channel on the 4-hour chart, only break below the channel support could trigger … Continue reading “USDJPY Daily Analysis – December 5, 2019”

EURUSD Daily Analysis – December 5, 2019

EURUSD extended its upside movement from 1.0981 to as high as 1.1116, breaking above 1.1097 resistance. Near term support is at 1.1065, as long as this level holds, the upside movement could be expected to continue and next target would be at 1.1150 area. On the downside, a breakdown below 1.1065 support would indicate that … Continue reading “EURUSD Daily Analysis – December 5, 2019”