USDCAD Daily Analysis – May 11, 2017 Forex Analysis

No changed in our view, USDCAD remains in downtrend from 1.3793, the rise from 1.3641 would possibly be consolidation of the downtrend. Another fall could be expected after the consolidation and next target would be at 1.3550 area. Resistance is at 1.3793, only a break of this level could trigger another rise towards 1.3900.

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USDJPY Daily Analysis – May 11, 2017 Forex Analysis

USDJPY’s bullish movement from 108.13 extended to as high as 114.36. Support is now located at the ascending trend line on 4-hour chart. As long as the pair is above the trend line, the uptrend could be expected to continue, and next target would be at 115.00 area. On the downside, a breakdown below the … Continue reading "USDJPY Daily Analysis – May 11, 2017"

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AUDUSD Daily Analysis – May 11, 2017 Forex Analysis

AUDUSD remains in downtrend from 0.7610, the rise from 0.7328 is likely consolidation of the downtrend. Near term resistance is at 0.7416, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.7250 area. On the upside, a break of 0.7426 resistance will indicate that lengthier … Continue reading "AUDUSD Daily Analysis – May 11, 2017"

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GBPUSD Daily Analysis – May 11, 2017 Forex Analysis

GBPUSD remains in uptrend from 1.2365, the fall from 1.2988 is likely consolidation of the uptrend. Near term support is at the bottom of the rising price channel on 4-hour chart. As long as the pair is in the channel, the uptrend could be expected to continue and next target would be at 1.3100 area. … Continue reading "GBPUSD Daily Analysis – May 11, 2017"

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EURUSD Daily Analysis – May 11, 2017 Forex Analysis

EURUSD’s downward movement from 1.1021 extended to as low as 1.0853. Near term resistance is at 1.0900, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.0750 area. On the upside, a break of 1.0900 resistance will indicate that correction of the downtrend is underway, … Continue reading "EURUSD Daily Analysis – May 11, 2017"

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