Monday 21 November 2016

USDCAD Daily Analysis - November 22, 2016 Forex Analysis

USDCAD's downward movement from 1.3588 extended to as low as 1.3386. Further decline could be expected in a couple of days, and next target would be at 1.3250 area.

usdcad chart


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USDJPY Daily Analysis - November 22, 2016 Forex Analysis

USDJPY remains in uptrend from 101.18, the fall from 111.36 is likely consolidation of the uptrend. Key support is at 108.50, as long as this level holds, the uptrend could be expected to continue, and next target would be at 114.00 zone.

usdjpy chart


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AUDUSD Daily Analysis - November 22, 2016 Forex Analysis

AUDUSD remains in downtrend from 0.7778, the rise from 0.7310 is likely consolidation of the downtrend. Range trading between 0.7310 and 0.7460 is possible in a couple of days. Resistance is located at the top of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to resume, and further decline to 0.7200 area is still possible. Only a clear break above the channel resistance could signal completion of the downtrend.

audusd chart


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GBPUSD Daily Analysis - November 22, 2016 Forex Analysis

GBPUSD's downward movement from 1.2673 had completed at 1.2302 already. Further rise to test 1.2673 resistance is possible in a couple of days, a break of this level will confirm that the uptrend from 1.1946 (Oct 7 low) has resumed, then next target would be at 1.2800 zone.

gbpusd chart


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EURUSD Daily Analysis - November 22, 2016 Forex Analysis

EURUSD is facing the resistance of the downward trend line on 4-hour chart. A clear break above the trend line resistance will indicate that the downtrend from 1.1299 had completed at 1.0569 already, then further rally to 1.0800 area could be seen. On the downside, as long as the trend line resistance holds, the rise from 1.0569 could be treated as consolidation of the downtrend, and further decline to test 1.0462 (Mar 13, 2015 low) support is possible.

eurusd chart


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