USDCAD Daily Analysis - October 17, 2016 Forex Analysis

Being contained by the support of the price channel on 4-hour chart, USDCAD rebounded from 1.3101, indicating that the pair remains in uptrend from 1.2822. Further rise could be expected in a couple of days, and the target would be at 1.3350 area. On the downside, a clear break below the channel support will indicate that the uptrend had completed at 1.3313 already, then deeper decline to 1.2800 area could be seen.

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USDJPY Daily Analysis - October 17, 2016 Forex Analysis

USDJPY remains in uptrend from 100.08. Further rise could be expected and next target would be at 106.00 area. Support is at 102.81, only break below this level will indicate that the uptrend had completed at 104.63 already, then the downward movement could bring price back to 100.00 zone.

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AUDUSD Daily Analysis - October 17, 2016 Forex Analysis

AUDUSD broke above the channel resistance, indicating that the downward movement from 0.7710 had completed at 0.7506 already. The pair is now in uptrend from 0.7506, the fall from 0.7647 would possibly be correction of the uptrend. Another rise to test 0.7710 resistance could be expected after correction.

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GBPUSD Daily Analysis - October 17, 2016 Forex Analysis

GBPUSD is forming a sideways consolidation in a range between 1.1946 and 1.2477. Another rise to test 1.2477 resistance would likely be seen, a break of this level will indicate that the downward movement from 1.3445 had completed at 1.1946 already, then further rally to test the resistance of the downward trend line could be seen.

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EURUSD Daily Analysis - October 17, 2016 Forex Analysis

EURUSD's downward movement from 1.1279 extended to as low as 1.0966. Resistance is now at 1.1058, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.0900 area. On the upside, a break of 1.1058 resistance will signal completion of the downtrend, then the following upward movement could bring price to 1.1200 zone.

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