USDCAD Daily Analysis - March 2, 2017 Forex Analysis

USDCAD remains in uptrend from 1.3009. Further rise could be expected after a minor consolidation, and next target would be at 1.3500 area. Support level is at 1.3250, only break below this level could signal completion of the uptrend.

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USDJPY Daily Analysis - March 2, 2017 Forex Analysis

USDJPY's upward movement from 111.68 extended to as high as 114.15. Further rise to test 114.95 resistance is possible in a couple of days. A break of this level will indicate that the downtrend from 118.66 (Dec 15, 2016 high) had completed at 111.59 already, then next target would be at 117.50 area. On the downside, as long as 114.95 resistance holds, the price action from 111.59 would possibly be consolidation of the downtrend and further decline to 111.00 area is still possible.

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AUDUSD Daily Analysis - March 2, 2017 Forex Analysis

AUDUSD broke below the channel support. Further decline to test 0.7605 key support would likely be seen in a couple of days. A breakdown below this level will confirm that the uptrend from 0.7159 (Dec 26, 2016 low) had completed at 0.7740 already, then the following downward movement could bring price to 0.7300 area. Near term resistance is at 0.7700, only a break of this level will indicate that the fall from 0.7740 is consolidation of the uptrend from 0.7159, then sideways movement in a range between 0.7605 and 0.7740 could be seen.

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GBPUSD Daily Analysis - March 2, 2017 Forex Analysis

After consolidation, GBPUSD broke below 1.2346 support and continued its downward movement from 1.2706. Further decline could be expected and next target would be at 1.2000 area. Resistance is now at 1.2400, only break above this level could signal completion of the downtrend.

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EURUSD Daily Analysis - March 2, 2017 Forex Analysis

EURUSD failed to break above the top of the price channel on 4-hour chart, indicating that the pair remains in downtrend from 1.0828, and the price action from 1.0521 could be treated as consolidation of the downtrend. Further decline could be expected after consolidation, and next target would be at 1.0400 area. Key resistance is at 1.0679, only break above this level could signal completion of the downtrend.

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