USDCAD Daily Analysis - February 23, 2017 Forex Analysis

USDCAD stays in a upward price channel on 4-hour chart and remains in uptrend from 1.3009. As long as the channel support holds, the uptrend could be expected to continue and next target would be at 1.3250 area. On the downside, a clear break below the channel support will signal completion of the uptrend, then the following downward movement could bring price back to test 1.2968 support.

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USDJPY Daily Analysis - February 23, 2017 Forex Analysis

USDJPY is short term downtrend from 114.95 and the rise from 112.61 is likely consolidation of the downtrend. Further decline to test 111.59 support is possible. A breakdown below this level will indicate that the longer term downtrend from 118.66 (Dec 15, 2016 high) has resumed, then next target would be at 111.00 area.

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EURUSD Daily Analysis - February 23, 2017 Forex Analysis

EURUSD broke below 1.0521 support, indicating that the downtrend from 1.0828 has resumed. Further decline could be expected over the next several days, and next target would be at 1.0400 area. Resistance is at 1.0600, only break above this level will indicate that lengthier consolidation for the downtrend is underway, then the following upward movement could bring price back to 1.0700 zone.

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