USDCAD Daily Analysis – March 29, 2017 Forex Analysis

USDCAD broke above 1.3409 resistance, indicating that the downtrend from 1.3535 had completed at 1.3264 already. Further rise could be expected in a couple of days and next target would be at 1.3500 area.

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USDJPY Daily Analysis – March 29, 2017 Forex Analysis

USDJPY broke above the channel resistance and is now facing 111.57 key resistance. A break of this level will indicate that the downtrend from 115.50 had completed at 110.11 already, then the following upward movement could bring price back to 113.50 zone. On the downside, as long as 111.57 resistance holds, the rise from 110.11 … Continue reading "USDJPY Daily Analysis – March 29, 2017"

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AUDUSD Daily Analysis – March 29, 2017 Forex Analysis

AUDUSD broke above 0.7648 resistance, indicating that the downward movement from 0.7749 had completed at 0.7587 already. Further rise could be expected in a couple of days and next target would be at 0.7700 area. Support level is at 0.7587, only break below this level could trigger another fall towards 0.7500.

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GBPUSD Daily Analysis – March 29, 2017 Forex Analysis

GBPUSD moved below 1.2469 support, indicating that the uptrend from 1.2109 had completed at 1.2615 already. The pair is now in downtrend. Further decline could be expected after correction and next target would be at 1.2200 area.

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EURUSD Daily Analysis – March 29, 2017 Forex Analysis

EURUSD stays in the ascending price channel on 4-hours chart and remains in uptrend from 1.0494. As long as the pair is in the channel, the fall from 1.0905 could be treated as consolidation of the uptrend and further rise to 1.0950 area is still possible. Key support is at 1.0760, only break below this … Continue reading "EURUSD Daily Analysis – March 29, 2017"

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USDCAD Daily Analysis – March 28, 2017 Forex Analysis

USDCAD is facing 1.3409 resistance, a break of this level will confirm that the downtrend from 1.3535 had completed at 1.3264 already, then the following upward movement could bring price to 1.3600 area. On the other side, as long as 1.3409 resistance holds, the sideways movement in a range between 1.3264 and 1.3409 could be … Continue reading "USDCAD Daily Analysis – March 28, 2017"

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USDJPY Daily Analysis – March 28, 2017 Forex Analysis

USDJPY’s downward movement from 115.50 extended to as low as 110.11. Deeper decline it still possible and next target would be at 109.00 area. Near term resistance is at the top of the price channel on 4-hours chart and the key resistance is at 111.57, only break above this level could signal completion of the … Continue reading "USDJPY Daily Analysis – March 28, 2017"

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AUDUSD Daily Analysis – March 28, 2017 Forex Analysis

AUDUSD stays in the descending price channel on 4-hours chart and remains in downtrend from 0.7749. Further decline is still possible after a minor consolidation, and next target would be at 0.7550 area. Resistance is at 0.7648, only break above this level will indicate that the downtrend had completed at 0.7603 already, then another rise … Continue reading "AUDUSD Daily Analysis – March 28, 2017"

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GBPUSD Daily Analysis – March 28, 2017 Forex Analysis

GBPUSD continued its upward movement from 1.2109 and the rise extended to as high as 1.2615. Near term support is at the bottom of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to continue and next target would be at 1.2700 area. Key support is … Continue reading "GBPUSD Daily Analysis – March 28, 2017"

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EURUSD Daily Analysis – March 28, 2017 Forex Analysis

EURUSD’s upward movement from 1.0494 extended to as high as 1.0905. Further rise is still possible after a minor consolidation and next target would be at 1.0950 area. Near term support is at the bottom of the price channel on 4-hours chart, as long as the pair is in the channel, the uptrend will continue. … Continue reading "EURUSD Daily Analysis – March 28, 2017"

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USDCAD Daily Analysis – March 24, 2017 Forex Analysis

USDCAD is now in uptrend from 1.3264, the fall from 1.3409 is likely correction of the uptrend. Further rise is possible in a couple of days and next target would be at 1.3500 area. Support is at 1.3264, only break below this level will indicate that the downtrend from 1.3535 has resumed, then the following … Continue reading "USDCAD Daily Analysis – March 24, 2017"

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USDJPY Daily Analysis – March 24, 2017 Forex Analysis

USDJPY’s downward movement from 115.50 extended to as low as 110.62. Further decline is still possible after a minor consolidation and next target would be at 110.00 area. Near term resistance is at the top of the price channel on 4-hours chart, as long as the pair is in the channel, the downtrend will continue. … Continue reading "USDJPY Daily Analysis – March 24, 2017"

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AUDUSD Daily Analysis – March 24, 2017 Forex Analysis

AUDUSD is now in downtrend from 0.7749. Further decline could be expected in a couple of days and next target would be at 0.7550 area. Resistance is at 0.7685, only break above this level could trigger another rise towards 0.7800.

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GBPUSD Daily Analysis – March 24, 2017 Forex Analysis

GBPUSD’s upward movement from 1.2109 extended to as high as 1.2531. Further rise is still possible after a minor consolidation and next target would be at 1.2600 area. Near term support is at the rising trend line on 4-hours chart and the key support is now at 1.2423, only break below this level could signal … Continue reading "GBPUSD Daily Analysis – March 24, 2017"

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EURUSD Daily Analysis – March 24, 2017 Forex Analysis

EURUSD remains in uptrend from 1.0494, the fall from 1.0824 is likely consolidation of the uptrend. Near term support is located at the bottom of the price channel on 4-hours chart. As long as the channel support holds, the uptrend could be expected to continue and next target would be at 1.0900 area. Key support … Continue reading "EURUSD Daily Analysis – March 24, 2017"

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USDCAD Daily Analysis – March 20, 2017 Forex Analysis

USDCAD remains in downtrend from 1.3535, the rise from 1.3276 could be treated as consolidation of the downtrend. Near term resistance is at the top of the price channel on 4-hours chart, and the key resistance is at 1.3377, only break above this level could signal completion of the downtrend.

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USDJPY Daily Analysis – March 20, 2017 Forex Analysis

USDJPY’s downward movement from 115.50 extended to as low as 112.47. As long as the pair stays in the downward price channel on 4-hours chart, the downtrend could be expected to continue and further decline to test 111.59 support is possible.

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AUDUSD Daily Analysis – March 20, 2017 Forex Analysis

AUDUSD broke above 0.7719 resistance, indicating that the uptrend from 0.7490 has resumed. Further rise could be expected and next target would be at 0.7800 area. Support is at now at 0.7663, as long as this level holds, the uptrend will continue.

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GBPUSD Daily Analysis – March 20, 2017 Forex Analysis

GBPUSD stays above the rising trend line on 4-hours chart and remains in uptrend from 1.2109. As long as the pair stays above the trend line, the uptrend could be expected to continue, and next target would be at 1.2500 area.

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EURUSD Daily Analysis – March 20, 2017 Forex Analysis

EURUSD remains in uptrend from 1.0494, further rise could be expected in a couple of days, and next target would be at 1.0800 area. Key support is at the bottom f the price channel on 4-hours chart, only a clear break below the channel support could signal completion of the uptrend.

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USDCAD Daily Analysis – March 17, 2017 Forex Analysis

USDCAD is now in downtrend from 1.3535, the rise from 1.3276 is likely consolidation of the downtrend. Further decline is still possible after the consolidation and next target would be at 1.3100 area. Resistance is at 1.3380, as long as this level holds, the downtrend will continue.

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USDJPY Daily Analysis – March 17, 2017 Forex Analysis

USDJPY’s short term downtrend from 115.50 extended to as low as 112.90. Deeper decline to test 111.59 support is still possible after a minor consolidation. Resistance is located at the top of the price channel on 4-hours chart, only a clear break above the channel resistance will indicate that the short term downtrend had completed … Continue reading "USDJPY Daily Analysis – March 17, 2017"

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AUDUSD Daily Analysis – March 17, 2017 Forex Analysis

Under pressure by 0.7740 resistance, AUDUSD pulled back from 0.7719. However, the pullback is likely consolidation of the uptrend from 0.7490. Support is at 0.7640, as long as the pair is above this level, the uptrend could be expected to resume, and another rise to test 0.7740 resistance could be seen. Only break below 0.7640 … Continue reading "AUDUSD Daily Analysis – March 17, 2017"

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GBPUSD Daily Analysis – March 17, 2017 Forex Analysis

GBPUSD’s rise from 1.2109 extended to as high as 1.2377. Further rise could be expected after a minor consolidation and next target would be at 1.2450 area. Support is at the ascending trend line on 4-hour chart. As long as the trend line support holds, the uptrend will continue.

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EURUSD Daily Analysis – March 17, 2017 Forex Analysis

EURUSD stays in a ascending price channel on 4-hours chart and remains in uptrend from 1.0494. As long as the pair stays in the channel, the uptrend could be expected to continue, and further rise to test 1.0828 resistance is possible. Key support is at the bottom of the price channel, only a clear break … Continue reading "EURUSD Daily Analysis – March 17, 2017"

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USDCAD Daily Analysis – March 16, 2017 Forex Analysis

USDCAD broke below 1.3421 key support and is now in downtrend from 1.3535. Near term resistance is at 1.3380, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.3100 area.

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USDJPY Daily Analysis – March 16, 2017 Forex Analysis

USDJPY broke below the upward price channel on 4-hours chart, indicating that the uptrend from 111.68 had completed at 115.50 already. The pair is now in downtrend, further decline could be expected in a couple of days, and next target would be at 112.20 area.

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AUDUSD Daily Analysis – March 16, 2017 Forex Analysis

AUDUSD broke above 0.7632 resistance and is now in uptrend from 0.7490. Further rise could be expected after a minor consolidation and next target would be at 0.7800 area. Support is at 0.7640, as long as this level holds, the uptrend will continue.

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GBPUSD Daily Analysis – March 16, 2017 Forex Analysis

GBPUSD broke above 1.2251 resistance, indicating that the downtrend from 1.2569 had completed at 1.2109 already. Further rise could be expected after a minor consolidation, and next target would be at 1.2400 area.

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EURUSD Daily Analysis – March 16, 2017 Forex Analysis

EURUSD failed to break below the the bottom of the rising price channel on 4-hours chart and rebounded strongly from 1.0600, indicating that the pair remains in uptrend from 1.0494. As long as the pair stays in the channel, further rise to test 1.0828 resistance is possible. Near term support is at 1.0650, and the … Continue reading "EURUSD Daily Analysis – March 16, 2017"

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USDCAD Daily Analysis – March 15, 2017 Forex Analysis

USDCAD stays in a ascending price channel on 4-hours chart, and remains in uptrend from 1.3009. As long as the channel support holds, the fall from 1.3535 could be treated as consolidation of the uptrend and further rise to 1.3600 area is still possible after the consolidation. Key support is now at 1.3421, only break … Continue reading "USDCAD Daily Analysis – March 15, 2017"

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USDJPY Daily Analysis – March 15, 2017 Forex Analysis

USDJPY stays in the rising price channel on 4-hours chart and remains in uptrend from 111.68. As long as the pair stays in the channel, the fall from 115.50 could be treated as consolidation of the uptrend and another rise to 117.50 area could be expected after the consolidation. Key support is at 113.55, only … Continue reading "USDJPY Daily Analysis – March 15, 2017"

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AUDUSD Daily Analysis – March 15, 2017 Forex Analysis

AUDUSD remains in downtrend from 0.7740, the price action from 0.7542 is likely consolidation of the downtrend. Key resistance is at 0.7632, as long as the pair is below this level, the downtrend could be expected to resume, and further decline to 0.7400 area is still possible. Only break above 0.7632 resistance could signal completion … Continue reading "AUDUSD Daily Analysis – March 15, 2017"

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GBPUSD Daily Analysis – March 15, 2017 Forex Analysis

GBPUSD continued its downward movement from 1.2569 and the fall extended to as low as 1.2109. Resistance is now at 1.2251, as long as this level holds, the downtrend could be expected to continue and next target would be at 1.2000 area. On the upside, a break of 1.2251 resistance will indicate that the downtrend … Continue reading "GBPUSD Daily Analysis – March 15, 2017"

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EURUSD Daily Analysis – March 15, 2017 Forex Analysis

EURUSD’s fall from 1.0714 extended to as low as 1.0600. Deeper decline to test the support of the ascending price channel on 4-hours chart is possible. A clear break below the channel support will confirm that the downtrend from 1.0828 has resumed, then next target would be at 1.0400 area. On the upside, as long … Continue reading "EURUSD Daily Analysis – March 15, 2017"

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USDCAD Daily Analysis – March 14, 2017 Forex Analysis

Under pressure by the resistance of 1.3598 (Dec 28, 2016 high), USDCAD pulled back from 1.3535. However, as long as the pair stays in the upward price channel on 4-hours chart, the fall from 1.3535 could be treated as consolidation of the uptrend from 1.3009, and further rise to 1.3600 area is still possible after … Continue reading "USDCAD Daily Analysis – March 14, 2017"

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USDJPY Daily Analysis – March 14, 2017 Forex Analysis

USDJPY remains in uptrend from 111.68, the fall from 115.50 is likely consolidation of the uptrend. Near term support is at the bottom of the price channel on 4-hours chart. As long as the price channel support holds, the uptrend could be expected to continue, and next target would be at 117.50 area. Key support … Continue reading "USDJPY Daily Analysis – March 14, 2017"

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AUDUSD Daily Analysis – March 14, 2017 Forex Analysis

AUDUSD stays in the descending price channel on 4-hour chart, and remains in downtrend from 0.7740. As long as the pair is in the channel, the downtrend could be expected to continue and further decline to 0.7400 area is still possible. Key resistance is at 0.7632, only break above this level could signal completion of … Continue reading "AUDUSD Daily Analysis – March 14, 2017"

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GBPUSD Daily Analysis – March 14, 2017 Forex Analysis

GBPUSD broke above the channel resistance, indicating that the downward movement from 1.2569 had completed at 1.2134 already. The pair is now in uptrend, further rise could be expected over the next several days, and next target would be at 1.2400 area.

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EURUSD Daily Analysis – March 14, 2017 Forex Analysis

EURUSD remains in uptrend from 1.0494, the fall from 1.0714 is likely consolidation of the uptrend. Support level is at 1.0600, as long as the pair is above this level, the upward movement could be expected to continue, and next target would be at 1.0750 area. On the downside, a breakdown below 1.0600 support will … Continue reading "EURUSD Daily Analysis – March 14, 2017"

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USDCAD Daily Analysis – March 13, 2017 Forex Analysis

USDCAD remains in uptrend from 1.3009, the fall from 1.3535 is likely consolidation of the uptrend. Near term support is at the bottom of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to resume, and further rise to 1.3600 area is still possible.

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USDJPY Daily Analysis – March 13, 2017 Forex Analysis

USDJPY is now in uptrend from 111.68. Further rise could be expected over the next several days, and next target would be at 117.50 area. Support is at 113.55, only break below this level could trigger another fall to test 111.59 support.

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AUDUSD Daily Analysis – March 13, 2017 Forex Analysis

AUDUSD remains in downtrend from 0.7740, the rise from 0.7490 is likely consolidation of the downtrend. Resistance is now at the top of the price channel on 4-hour chart. As long as the pair is in the channel, the downtrend could be expected to continue, and next target would be at 0.7400 area. Only a … Continue reading "AUDUSD Daily Analysis – March 13, 2017"

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GBPUSD Daily Analysis – March 13, 2017 Forex Analysis

GBPUSD stays in the descending price channel on 4-hour chart and remains in downtrend from 1.2569. As long as the pair is in the channel, the downtrend could be expected to continue, and next target would be at 1.2000 area. Key resistance is at 1.2215, only break above this level will indicate that the downtrend … Continue reading "GBPUSD Daily Analysis – March 13, 2017"

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EURUSD Daily Analysis – March 13, 2017 Forex Analysis

EURUSD broke above 1.0679 resistance, indicating that the pair is now in uptrend from 1.0493. Further rise would likely be seen in a couple of days, and next target would be at 1.0750 area. Support is at 1.0600, only break below this level could trigger another fall towards 1.0400.

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USDCAD Daily Analysis – March 10, 2017 Forex Analysis

USDCAD’s upward movement from 1.3009 extended to as high as 1.3535. Support is at the bottom of the price channel on 4-hour chart. As long as the pair stays in the channel, the uptrend could be expected to continue, and next target would be at 1.3600 area.

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USDJPY Daily Analysis – March 10, 2017 Forex Analysis

USDJPY broke above 114.95 resistance, indicating that the downward movement from 118.66 (Dec 15, 2016 high) had completed at 111.59 already. The pair is now in uptrend from 111.68, further rise could be expected over the next several days, and next target would be at 117.50 area. Support is at 113.50, only break below this … Continue reading "USDJPY Daily Analysis – March 10, 2017"

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AUDUSD Daily Analysis – March 10, 2017 Forex Analysis

AUDUSD stays below the downward trend line on 4-hours chart and remains in downtrend from 0.7740. As long as the pair is below the trend line, the downtrend could be expected to continue, and next target would be at 0.7400 area. Only a clear break above the trend line resistance could signal completion of the … Continue reading "AUDUSD Daily Analysis – March 10, 2017"

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GBPUSD Daily Analysis – March 10, 2017 Forex Analysis

GBPUSD remains in downtrend from 1.2569. As long as the pair is in the descending channel on 4-hours chart, the downtrend could be expected to continue, and next target would be at 1.2000 area. Resistance levels are at 1.2235 and 1.2300, only break above these levels could signal completion of the downtrend.

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EURUSD Daily Analysis – March 10, 2017 Forex Analysis

EURUSD continued its sideways movement in a range between 1.0493 and 1.0679. The sideways movement is likely consolidation of the downtrend from 1.0828, further decline to 1.0400 area is still possible after the sideways consolidation. Key resistance is at 1.0679, only break above this level will indicate that the downtrend had completed at 1.0493 already, … Continue reading "EURUSD Daily Analysis – March 10, 2017"

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EURUSD Daily Analysis – March 9, 2017 Forex Analysis

EURUSD moved sideways in a trading range between 1.0493 and 1.0679. As long as 1.0679 key resistance holds, the sideways movement could be treated as consolidation of the downtrend from 1.0828 and further decline to 1.0400 area is possibly after the sideways consolidation. On the upside, a break of 1.0679 resistance will indicate that the … Continue reading "EURUSD Daily Analysis – March 9, 2017"

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GBPUSD Daily Analysis – March 9, 2017 Forex Analysis

GBPUSD’s bearish movement from 1.2569 extended to as low as 1.2139. As long as the pair stays in the descending channel on 4-hour chart, the downtrend could be expected to continue, and next target would be at 1.2000 area. Key resistance is at 1.2300, only break above this level could signal completion of the downtrend.

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AUDUSD Daily Analysis – March 9, 2017 Forex Analysis

After consolidation, AUDUSD continued its downward movement from 0.7740 and dropped to as low as 0.7517. Further decline is still possible after a minor consolidation, and next target would be at 0.7400 area. Near term resistance is at the falling trend line on 4-hour chart, and the key resistance is at 0.7632, only break above … Continue reading "AUDUSD Daily Analysis – March 9, 2017"

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USDJPY Daily Analysis – March 9, 2017 Forex Analysis

USDJPY is facing 114.95 resistance again. A break of this level will indicate that the pair is in uptrend from 111.68, then the following upward movement could bring price to 117.50 zone. Near term support is at 113.50, a breakdown below this level will confirm that the pair failed to test the 114.95 resistance, then … Continue reading "USDJPY Daily Analysis – March 9, 2017"

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USDCAD Daily Analysis – March 9, 2017 Forex Analysis

After consolidation, USDCAD continued its upward movement from 1.3009 and the rise extended to as high as 1.3500. Further rise is still possible after a minor consolidation and next target would be at 1.3600 area. Key support is at 1.3372, only break below this level could signal completion of the uptrend.

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USDCAD Daily Analysis – March 2, 2017 Forex Analysis

USDCAD remains in uptrend from 1.3009. Further rise could be expected after a minor consolidation, and next target would be at 1.3500 area. Support level is at 1.3250, only break below this level could signal completion of the uptrend.

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USDJPY Daily Analysis – March 2, 2017 Forex Analysis

USDJPY’s upward movement from 111.68 extended to as high as 114.15. Further rise to test 114.95 resistance is possible in a couple of days. A break of this level will indicate that the downtrend from 118.66 (Dec 15, 2016 high) had completed at 111.59 already, then next target would be at 117.50 area. On the … Continue reading "USDJPY Daily Analysis – March 2, 2017"

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AUDUSD Daily Analysis – March 2, 2017 Forex Analysis

AUDUSD broke below the channel support. Further decline to test 0.7605 key support would likely be seen in a couple of days. A breakdown below this level will confirm that the uptrend from 0.7159 (Dec 26, 2016 low) had completed at 0.7740 already, then the following downward movement could bring price to 0.7300 area. Near … Continue reading "AUDUSD Daily Analysis – March 2, 2017"

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GBPUSD Daily Analysis – March 2, 2017 Forex Analysis

After consolidation, GBPUSD broke below 1.2346 support and continued its downward movement from 1.2706. Further decline could be expected and next target would be at 1.2000 area. Resistance is now at 1.2400, only break above this level could signal completion of the downtrend.

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EURUSD Daily Analysis – March 2, 2017 Forex Analysis

EURUSD failed to break above the top of the price channel on 4-hour chart, indicating that the pair remains in downtrend from 1.0828, and the price action from 1.0521 could be treated as consolidation of the downtrend. Further decline could be expected after consolidation, and next target would be at 1.0400 area. Key resistance is … Continue reading "EURUSD Daily Analysis – March 2, 2017"

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USDCAD Daily Analysis – March 8, 2017 Forex Analysis

USDCAD moved sideways in a narrow range between 1.3372 and 1.3436. As long as 1.3330 support holds, the sideways movement could be treated as consolidation of the uptrend from 1.3009 and further rise to 1.3500 area is still possible.

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USDJPY Daily Analysis – March 8, 2017 Forex Analysis

USDJPY failed to break above the 114.95 resistance and stayed in the trading range between 111.59 and 114.95. Another fall would likely be seen in a couple of days, and the support at 111.59 would be retested.

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AUDUSD Daily Analysis – March 8, 2017 Forex Analysis

AUDUSD’s bounce from 0.7542 extended to as high as 0.7632. However, the bounce is likely correction of the downtrend from 0.7740. Resistance is now at 0.7650, as long as the pair stays below this level, then downtrend could be expected to resume and next target would be at 0.7400 area.

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GBPUSD Daily Analysis – March 8, 2017 Forex Analysis

GBPUSD continued its downward movement from 1.2569 and the fall extended to as low as 1.2169. Near term resistance is at the descend price channel on 4-hours chart. As long as the pair stays in the channel, the downtrend could be expected to continue, and next target would be at 1.2000 area. Key resistance is … Continue reading "GBPUSD Daily Analysis – March 8, 2017"

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EURUSD Daily Analysis – March 8, 2017 Forex Analysis

EURUSD stays in the descend price channel on 4-hours chart, indicating that the pair remains in downtrend from 1.0828. Another fall to test 1.0493 support could be expected in a couple of days, a breakdown below this level will signal resumption of the downtrend, then next target would be at 1.0400 area. Key resistance is … Continue reading "EURUSD Daily Analysis – March 8, 2017"

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USDCAD Daily Analysis – March 7, 2017 Forex Analysis

USDCAD remains in uptrend from 1.3009, the fall from 1.3436 is likely consolidation of the uptrend. Support is at 1.3330, as long as this level holds, the uptrend could be expected to continue and next target would be at 1.3500 area.

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USDJPY Daily Analysis – March 7, 2017 Forex Analysis

USDJPY is forming a sideways consolidation in a range between 111.59 and 114.95. Another fall to test 111.59 support would likely be seen in a couple of days. Resistance is at 114.95, only break above this level will indicate that the pair is in uptrend from 111.68, then further rise to 117.50 area is possible.

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AUDUSD Daily Analysis – March 7, 2017 Forex Analysis

AUDUSD remains in downtrend from 0.7740, the rise from 0.7542 is likely consolidation of the downtrend. Further decline could be expected after the consolidation and next target would be at 0.7400 area. Resistance is at 0.7620, only break above this level will indicate that the downtrend had completed at 0.7542 already, then further rally to … Continue reading "AUDUSD Daily Analysis – March 7, 2017"

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GBPUSD Daily Analysis – March 7, 2017 Forex Analysis

GBPUSD remains in downtrend from 1.2569, the bounce from 1.2214 is likely consolidation of the downtrend. Near term resistance is at the top of the price channel on 4-hour chart. As long as the pair stays in the channel, the downtrend could be expected to continue, and next target would be at 1.2100 area. Key … Continue reading "GBPUSD Daily Analysis – March 7, 2017"

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EURUSD Daily Analysis – March 7, 2017 Forex Analysis

After touching the top of the price channel on 4-hour chart, EURUSD pulled back into the channel, indicating that the pair remains in downtrend from 1.0828. Another fall to test 1.0493 support would likely be seen and a breakdown below this level could signal resumption of the downtrend. Key resistance is at 1.0679, only break … Continue reading "EURUSD Daily Analysis – March 7, 2017"

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USDCAD Daily Analysis - March 3, 2017 Forex Analysis

USDCAD's upward movement from 1.3009 extended to as high as 1.3401. Further rise could be expected after a minor consolidation, and next target would be at 1.3500 area. Support is at 1.3300, as long as this level holds, the uptrend will continue.

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USDJPY Daily Analysis - March 3, 2017 Forex Analysis

USDJPY is facing 114.95 resistance, a break of this level will signal completion of the downtrend from 118.66 (Dec 15, 2016 high), then the following upward movement could bring price to 117.50 area. Support is at 113.45, only break below this level could bring price back to test 111.59 support.

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AUDUSD Daily Analysis - March 3, 2017 Forex Analysis

AUDUSD broke below 0.7605 key support, indicating that the uptrend from 0.7159 (Dec 26, 2016 low) had completed at 0.7740 already. Further decline could be expected after a minor consolidation and next target would be at 0.7400 area. Resistance is at 0.7600, as long as the pair is below this level, the downtrend will continue.

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GBPUSD Daily Analysis - March 3, 2017 Forex Analysis

GBPUSD's downward movement from 1.2569 extended to as low as 1.2241. Further decline could be expected after a minor consolidation, and next target would be at 1.2100 area. Resistance is at 1.2340, as long as this level holds, the downtrend will continue.

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EURUSD Daily Analysis - March 3, 2017 Forex Analysis

EURUSD is facing 1.0493 support, a breakdown below this level will signal resumption of the downtrend from 1.0828, then next target would be at 1.0400 area. Near term resistance is at 1.0550, only break above this level could bring price back to test the resistance of the top of the channel on 4-hour chart.

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USDCAD Daily Analysis - March 2, 2017 Forex Analysis

USDCAD remains in uptrend from 1.3009. Further rise could be expected after a minor consolidation, and next target would be at 1.3500 area. Support level is at 1.3250, only break below this level could signal completion of the uptrend.

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USDJPY Daily Analysis - March 2, 2017 Forex Analysis

USDJPY's upward movement from 111.68 extended to as high as 114.15. Further rise to test 114.95 resistance is possible in a couple of days. A break of this level will indicate that the downtrend from 118.66 (Dec 15, 2016 high) had completed at 111.59 already, then next target would be at 117.50 area. On the downside, as long as 114.95 resistance holds, the price action from 111.59 would possibly be consolidation of the downtrend and further decline to 111.00 area is still possible.

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AUDUSD Daily Analysis - March 2, 2017 Forex Analysis

AUDUSD broke below the channel support. Further decline to test 0.7605 key support would likely be seen in a couple of days. A breakdown below this level will confirm that the uptrend from 0.7159 (Dec 26, 2016 low) had completed at 0.7740 already, then the following downward movement could bring price to 0.7300 area. Near term resistance is at 0.7700, only a break of this level will indicate that the fall from 0.7740 is consolidation of the uptrend from 0.7159, then sideways movement in a range between 0.7605 and 0.7740 could be seen.

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GBPUSD Daily Analysis - March 2, 2017 Forex Analysis

After consolidation, GBPUSD broke below 1.2346 support and continued its downward movement from 1.2706. Further decline could be expected and next target would be at 1.2000 area. Resistance is now at 1.2400, only break above this level could signal completion of the downtrend.

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EURUSD Daily Analysis - March 2, 2017 Forex Analysis

EURUSD failed to break above the top of the price channel on 4-hour chart, indicating that the pair remains in downtrend from 1.0828, and the price action from 1.0521 could be treated as consolidation of the downtrend. Further decline could be expected after consolidation, and next target would be at 1.0400 area. Key resistance is at 1.0679, only break above this level could signal completion of the downtrend.

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