USDCAD Daily Analysis - November 18, 2016 Forex Analysis

USDCAD is facing 1.3588 resistance, a break of this level will indicate that the uptrend from 1.3005 has resumed, then next target would be at 1.3700 area. On the downside, as long as 1.3588 resistance holds, the rise from 1.3399 would possibly be correction of the downtrend from 1.3558, another fall to 1.3250 area is still possible.

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USDJPY Daily Analysis - November 18, 2016 Forex Analysis

USDJPY's upward movement from 101.18 extended to as high as 110.68. Near term support is at upward trend line on 4-hour chart. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 114.00 area.

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AUDUSD Daily Analysis - November 18, 2016 Forex Analysis

AUDUSD's downward movement extended to as low as 0.7381. Further decline could be expected, and next target would be at 0.7200 area. Resistance is at 0.7480, only break above this level could signal completion of the downtrend.

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EURUSD Daily Analysis - November 18, 2016 Forex Analysis

EURUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.1299. As long as the trend line resistance holds, the downtrend could be expected to continue, and further decline to test 1.0462 (Mar 13, 2015 low) support is possible. Only a clear break above the trend line resistance could signal completion of the downtrend.

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