USDCAD Daily Analysis - February 8, 2017 Forex Analysis

USDCAD broke above 1.3168 resistance, indicating that the downtrend from 1.3387 had completed at 1.2968 already. Further rise could be expected in a couple of days, and the target would be at 1.3300 area.

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USDJPY Daily Analysis - February 8, 2017 Forex Analysis

USDJPY remains in downtrend from 118.66 (Dec 15, 2016 high). Further fall is still possible after a minor consolidation, and next target would be at 110.00 area. There is a downward trend line on 4-hour chart, which may act as a resistance on the upside near 112.60. The key resistance is at 113.95, only break above this level will indicate that lengthier consolidation of the downtrend is underway, then further rise to 115.00 area could be seen.

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AUDUSD Daily Analysis - February 8, 2017 Forex Analysis

AUDUSD remains in uptrend from 0.7159 (Dec 26, 2016 low), the fall from 0.7695 is likely consolidation of the uptrend. Range trading between 0.7570 and 0.7695 would likely be seen in a couple of days and further rise to 0.7800 is possible after consolidation. Key support is at 0.7511, only break below this level could signal completion of the uptrend.

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GBPUSD Daily Analysis - February 8, 2017 Forex Analysis

GBPUSD broke below 1.2412 support, indicating that the uptrend from 1.1986 had completed at 1.2706 already. The pair is now in downtrend, further decline could be expected over the next several days, and next target would be at 1.2100 area.

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EURUSD Daily Analysis - February 8, 2017 Forex Analysis

EURUSD broke below the bottom of the price channel on 4-hour chart. However, as long as the pair is above 1.0620 support, the fall from 1.0828 could be treated as consolidation of the uptrend from 1.0340 and further rise to 1.0900 area is still possible after consolidation. On the downside, a breakdown below 1.0620 support will indicate that the uptrend had completed at 1.0828 already, then the following downward movement could bring price to 1.0000 zone.

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