USDCAD Daily Analysis - February 1, 2017 Forex Analysis

USDCAD broke below 1.3018 support, indicating that the downtrend from 1.3598 has resumed. Further decline could be expected over th next several days, and next target would be at 1.2800 area. Near term resistance is at 1.3168, only break above this level could bring price back to 1.3300 zone.

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USDJPY Daily Analysis - February 1, 2017 Forex Analysis

USDJPY broke below 112.52 support, indicating that the downtrend from 118.66 (Dec 15, 2016 high) has resumed. Further decline could be expected over the next several days, and next target would be at 110.00 area. Near term resistance is at 113.50, only break above this level will indicate that lengthier consolidation for the downtrend is needed, then another rise to test 115.62 resistance could be seen.

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GBPUSD Daily Analysis - February 1, 2017 Forex Analysis

GBPUSD is facing 1.2600 resistance, a break of this level will signal resumption of the uptrend from 1.1986, then further rise to 1.2800 area could be seen. Support is now at 1.2412, a breakdown below this level will confirm that the uptrend had completed at 1.2673 already, then the following downward movement could bring price to 1.2100 zone.

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EURUSD Daily Analysis - February 1, 2017 Forex Analysis

After consolidation, EURUSD continued its upward movement from 1.0340 and the rise extended to as high as 1.0812. Further rise could be expected and next target would be at 1.0900 area. Key support is now at 1.0620, only break below this level could signal completion of the uptrend.

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