USDCAD Daily Analysis – May 12, 2017 Forex Analysis

USDCAD moved sideways in a trading range between 1.3641 and 1.3793. Support level is at 1.3641, a breakdown below this level will confirm that the upward movement from 1.3223 had completed at 1.3793 already, then next target would be at 1.3550 area. Resistance is at 1.3793, only a break of this level could trigger another … Continue reading "USDCAD Daily Analysis – May 12, 2017"

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USDJPY Daily Analysis – May 12, 2017 Forex Analysis

USDJPY continued its bullish movement from 108.13 and the rise extended to as high as 114.36. Near term support is at the ascending trend line on 4-hour chart. As long as the pair is above the trend line, the fall from 114.36 could be treated as consolidation of the uptrend and another rise towards 115.00 … Continue reading "USDJPY Daily Analysis – May 12, 2017"

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AUDUSD Daily Analysis – May 12, 2017 Forex Analysis

No changed in our view, AUDUSD remains in downtrend from 0.7610, the bounce from 0.7328 could be treated as consolidation of the downtrend. Range trading between 0.7328 and 0.7426 would likely be seen in a couple of days. Resistance is at 0.7426, as long as this level holds, the downtrend could be expected to resume, … Continue reading "AUDUSD Daily Analysis – May 12, 2017"

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GBPUSD Daily Analysis – May 12, 2017 Forex Analysis

GBPUSD is testing that support of the bottom of the ascending price channel on 4-hour chart and it is also facing the key support of 1.2831. A breakdown below 1.2831 key support will indicate that the upward movement from 1.2365 had completed at 1.2988 already, then the following pullback could bring price back to 1.2700 … Continue reading "GBPUSD Daily Analysis – May 12, 2017"

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EURUSD Daily Analysis – May 12, 2017 Forex Analysis

EURUSD continued its downward movement from 1.1021 and the fall extended to as low as 1.0839. Resistance level is at 1.0900, as long as this level holds, the downward movement could be expected to continue and next target would be at 1.0750 area. On the other side, a break of this level will suggest that … Continue reading "EURUSD Daily Analysis – May 12, 2017"

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