USDCAD Daily Analysis - January 19, 2017 Forex Analysis

USDCAD broke above the downward trend line on 4-hour chart, indicating that the downtrend from 1.3598 had completed at 1.3018 already. Further rise could be expected over the next several days, and next target would be at 1.3500 area. Support is at 1.3135, only break below this level could trigger another fall towards 1.2800.

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USDJPY Daily Analysis - January 19, 2017 Forex Analysis

USDJPY is facing the resistance of the downward trend line on 4-hour chart. As long as the trend line resistance holds, the rise from 112.56 could be treated as consolidation of the downtrend from 118.60, and further decline to 110.00 area is still possible after consolidation. Only a clear break above the trend line resistance could signal completion of the downtrend.

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AUDUSD Daily Analysis - January 19, 2017 Forex Analysis

AUDUSD is facing the support of the upward trend line on 4-hour chart. As long as the trend line support holds the fall from 0.7568 could be treated as consolidation of the uptrend from 0.7159, and further rise to 0.7700 area is still possible. Key support is at 0.7448, only break below this level could signal completion of the uptrend.

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GBPUSD Daily Analysis - January 19, 2017 Forex Analysis

GBPUSD is now in uptrend from 1.1986, the fall from 1.2415 could be treated as correction of the uptrend. Near term support is at 1.2180. As long as this level holds, the uptrend could be expected to resume, and next target would be at 1.2650 area.

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EURUSD Daily Analysis - January 19, 2017 Forex Analysis

EURUSD remains in uptrend from 1.0340, the fall from 1.0719 is likely consolidation of the uptrend. Support is at the 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 1.0800 area. Only a clear break below the trend line support could signal completion of the uptrend.

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