USDCAD Daily Analysis - February 3, 2017 Forex Analysis

USDCAD remains in downtrend from 1.3387, the rise from 1.2968 is likely consolidation of the downtrend. Key resistance is at 1.3168, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.2800 area. Only break above 1.3168 resistance could signal completion of the downtrend.

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USDJPY Daily Analysis - February 3, 2017 Forex Analysis

USDJPY's downward movement from 118.66 (Dec 15, 2016 high) extended to as low as 112.05. Further decline could be expected over the next several days, and next target would be at 110.00 area. Near term resistance is at 114.00, only break above this level could trigger another rise to test 115.62 resistance.

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AUDUSD Daily Analysis - February 3, 2017 Forex Analysis

AUDUSD's upward movement from 1.7159 (Dec 26, 2016 low) extended to as high as 0.7695. Key support is now at 0.7511, as long as this level holds, the uptrend could be expected to continue, and next target would be at 0.7800 area. Only break below 0.7511 support could signal completion of the uptrend.

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GBPUSD Daily Analysis - February 3, 2017 Forex Analysis

GBPUSD remains in uptrend from 1.1986, the price action from 1.2673 could be treated as consolidation of the uptrend. As long as 1.2412 support holds, the uptrend could be expected to continue, and next target would be at 1.2800 area. On the downside, a breakdown below 1.2412 support will indicate that the uptrend had completed at 1.2706 already, then the following downward movement could bring price back to 1.2100 zone.

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EURUSD Daily Analysis - February 3, 2017 Forex Analysis

EURUSD stays in the upward price channel on 4-hour chart, and remains in uptrend from 1.0340. 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 is now at 1.0620, only break below this level could signal completion of the uptrend.

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