Monday 24 October 2016

USDCAD Daily Analysis - October 25, 2016 Forex Analysis

USDCAD's upward movement from 1.3005 extended to as high as 1.3397, the subsequent fall indicate that consolidation of the uptrend is underway. Range trading between 1.3200 and 1.3397 would likely be seen over the next several days.

usdcad chart


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USDJPY Daily Analysis - October 25, 2016 Forex Analysis

USDJPY is facing 104.63 resistance, a break of this level will indicate that the uptrend from 100.08 has resumed, then further rise to 106.00 area could be seen. On the other side, as long as 104.63 resistance holds, the sideways movement in a range between 102.81 and 104.63 could be expected to continue.

usdjpy chart


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AUDUSD Daily Analysis - October 25, 2016 Forex Analysis

AUDUSD remains in downtrend from 0.7734, the bounce from 0.7587 could be treated as consolidation of the downtrend. Resistance is at 0.7650, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.7500 area. Only break above 0.7650 resistance could signal completion of the downtrend.

audusd chart


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EURUSD Daily Analysis - October 25, 2016 Forex Analysis

EURUSD remains in downtrend from 1.1279, the rise from 1.0859 is likely consolidation of the downtrend. Near term resistance is at 1.0935, as long as this level holds, the downtrend could be expected to resume, and further decline to 1.0700 area is still possible. Key resistance is located at the top of the price channel, only a clear break above the channel resistance will indicate that the downtrend had completed at 1.0859 already, then the following upward movement could bring price to 1.1400 zone.

eurusd chart


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