USDCAD Daily Analysis - January 27, 2017 Forex Analysis

USDCAD remains in downtrend from 1.3387. Further decline would likely be seen after a minor consolidation and next target would be at 1.2900 area. Resistance is at 1.3230, as long as this level holds, the downtrend will continue.

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USDJPY Daily Analysis - January 27, 2017 Forex Analysis

No changed in our view, USDJPY remains in downtrend from 118.60, as long as 115.62 resistance holds, the price action from 112.56 could be treated as consolidation of the downtrend. Further decline would likely be seen and next target would be at 110.00 area. Only break above 115.62 resistance could signal completion of the downtrend.

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AUDUSD Daily Analysis - January 27, 2017 Forex Analysis

AUDUSD moved sideways in a trading range between 0.7493 and 0.7608. As long as 0.7493 support holds, the price action in the range could be treated as consolidation of the uptrend from 0.7159, and further rise to 0.7700 area is still possible. On the downside, a breakdown below 0.7493 support will indicate that the uptrend had completed at 0.7608 already, then deeper decline to 0.7350 area could be seen.

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GBPUSD Daily Analysis - January 27, 2017 Forex Analysis

GBPUSD remains in uptrend from 1.1986, the fall from 1.2673 is likely consolidation of the uptrend. 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 1.2800 area. Only a clear break below the channel support will indicate that the upward movement had completed at 1.2673 already, then the following downward movement could bring price back to test 1.1986 support.

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EURUSD Daily Analysis - January 27, 2017 Forex Analysis

EURUSD is facing the support of the upward trend line on 4-hour chart. As long as the trend line support holds, the fall from 1.0774 could be treated as consolidation of the uptrend from 1.0340, and further rise to 1.0900 area is still possible after consolidation. Key support is at 1.0588, only break below this level will indicate that the uptrend had completed at 1.0774 already, then the following downward movement could bring price back to test 1.0340 support.

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