EURUSD Daily Analysis – January 17, 2020

EURUSD stays in a rising price channel on the 4-hour chart and remains in the uptrend from 1.1085. As long as the channel support holds, the pullback from 1.1172 could be treated as consolidation for the uptrend and further rise to 1.1200 area is still possible after the consolidation. On the downside, a breakdown below … Continue reading “EURUSD Daily Analysis – January 17, 2020”

GBPUSD Daily Analysis – January 17, 2020

GBPUSD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 1.3284. As long as the channel resistance holds, the downtrend could be expected to resume and further decline to 1.2850 area is possible after the consolidation. On the upside, a breakout of the channel resistance would indicate that … Continue reading “GBPUSD Daily Analysis – January 17, 2020”

USDJPY Daily Analysis – January 16, 2020

USDJPY is in consolidation for the uptrend from 107.65, range trading between 109.40 and 110.20 would likely be seen in a couple of days. As long as 109.40 support holds, the uptrend could be expected to resume, a breakout of 110.20 could trigger further upside movement to 110.50 area. On the downside, a breakdown below … Continue reading “USDJPY Daily Analysis – January 16, 2020”

EURUSD Daily Analysis – January 16, 2020

EURUSD broke above the top of the price channel on the 4-hour chart, suggesting that the downside movement from 1.1239 had completed at 1.1085 already. Further rally would likely be seen and next target would be at 1.1200 area. Near term support is at 1.1110, a breakdown below this level could trigger another fall towards … Continue reading “EURUSD Daily Analysis – January 16, 2020”

GBPUSD Daily Analysis – January 16, 2020

GBPUSD is facing the resistance of the falling trend line on the 4-hour chart. As long as the trend line resistance holds, the bounce from 1.2954 could be treated as consolidation for the downtrend from 1.3284 and further decline to 1.2850 area is still possible. On the upside, a breakout of the trend line resistance … Continue reading “GBPUSD Daily Analysis – January 16, 2020”