USDCAD Daily Analysis – May 4, 2017 Forex Analysis

USDCAD stays in a ascending price channel on 4-hour chart and remains in uptrend from 1.3223. As long as the pair is in the channel, the fall from 1.3757 could be treated as consolidation of the uptrend, and further rise to 1.3800 area is still possible after the consolidation. Key support is now at 1.3630, … Continue reading "USDCAD Daily Analysis – May 4, 2017"

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USDJPY Daily Analysis – May 4, 2017 Forex Analysis

USDJPY’s bullish movement from 108.13 extended to as high as 112.89. As long as the pair is in the ascending price channel on 4-hour chart, the bullish move could be expected to continue, and next target would be at 114.00 area. Key support is now at 111.75, only break below this level could signal completion … Continue reading "USDJPY Daily Analysis – May 4, 2017"

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AUDUSD Daily Analysis – May 4, 2017 Forex Analysis

AUDUSD’s downward movement from 0.7610 extended to as low as 0.7414. Further decline is still possible and next target would be at 0.7300 area. Near term resistance is at 0.7465 and the key resistance is located at the descending trend line on 4-hour chart, only a clear break above the trend line resistance could signal … Continue reading "AUDUSD Daily Analysis – May 4, 2017"

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GBPUSD Daily Analysis – May 4, 2017 Forex Analysis

GBPUSD broke below 1.2864 support, indicating that the short term uptrend from 1.2756 had completed at 1.2965 already. Deeper decline could be seen in a couple of days, and next target would be at the bottom of the price channel on 4-hour chart. As long as the channel support holds, the fall from 1.2965 would … Continue reading "GBPUSD Daily Analysis – May 4, 2017"

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EURUSD Daily Analysis – May 4, 2017 Forex Analysis

EURUSD failed to break out of 1.0950 resistance and continued its sideways movement in a trading range between 1.0820 and 1.0950. As long as the 1.0820 support holds, the sideways movement could be treated as consolidation of the uptrend from 1.0569, and another rise towards 1.1000 could be expected after the consolidation. On the downside, … Continue reading "EURUSD Daily Analysis – May 4, 2017"

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