USDCAD Daily Analysis - September 29, 2016 Forex Analysis

USDCAD broke below 1.3130 support, indicating that the uptrend from 1.3000 had completed at 1.3280 already. Deeper decline to test 1.3000 support is possible in a couple of days, a breakdown below this level will indicate that the longer term uptrend from 1.2763 (Aug 18 low) is complete, then the following downward movement could bring price to 1.2800 zone.

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USDJPY Daily Analysis - September 29, 2016 Forex Analysis

USDJPY stays below the downward trend line on 4-hour chart. As long as the trend line resistance holds, the pair is in downtrend from 104.31, and the rise from 100.08 could be treated as consolidation of the downtrend. Further decline to test 99.52 (Aug 16 low) support is still possible after consolidation. Only a clear break above the trend line resistance could signal completion of the downtrend.

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AUDUSD Daily Analysis - September 29, 2016 Forex Analysis

AUDUSD continued its upward movement from 0.7441 and the rise extended to as high as 0.7710. Further rise to test 0.7731 resistance is possible. Key support is at 0.7602, only break below this level could signal completion of the uptrend.

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GBPUSD Daily Analysis - September 29, 2016 Forex Analysis

GBPUSD is facing the resistance of the downward trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend from 1.3445 could be expected to continue, and further decline to test 1.2865 (Aug 15 low) support is possible. On the other side, a clear break above the trend line resistance will indicate that the downtrend had completed at 1.2914 already, then the following upward movement could bring price back to 1.3300 - 1.3350 area.

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EURUSD Daily Analysis - September 29, 2016 Forex Analysis

EURUSD is now in short term downtrend from 1.1279. Deeper decline to test 1.1123 key support is possible, and a breakdown below this level will indicate that the longer term downtrend from 1.1366 (Aug 18 high) has resumed, then next target would be at 1.1000 area. Resistance is at 1.1279, only break above this level will indicate that the sideways movement in a range between 1.1123 and 1.1326 is complete, then the following upward movement could bring price to 1.1500 zone.

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