USDCAD Daily Analysis – May 16, 2017 Forex Analysis

USDCAD broke below 1.3641 support, indicating that the uptrend from 1.3223 had completed at 1.3793 already. Further decline could be expected in a couple of days, and next target would be at 1.3500 area. Resistance is at 1.3730, only a break of this level could trigger another rise towards 1.3900.

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USDJPY Daily Analysis – May 16, 2017 Forex Analysis

USDJPY failed to break below the support line of the price channel on 4-hour chart, indicating that the pair remains in uptrend from 108.13. As long as the pair is in the channel, further rise could be expected and next target would be at 115.50 area. Key support is now at 113.16, only a breakdown … Continue reading "USDJPY Daily Analysis – May 16, 2017"

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AUDUSD Daily Analysis – May 16, 2017 Forex Analysis

AUDUSD broke above 0.7426 resistance, indicating that the downward movement from 0.7610 had completed at 0.7328 already. Further rally could be expected in a couple of days, and next target would be at the downward trend line on 4-hour chart. Support level is at 0.7365, only a breakdown below this level could trigger another fall … Continue reading "AUDUSD Daily Analysis – May 16, 2017"

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GBPUSD Daily Analysis – May 16, 2017 Forex Analysis

GBPUSD failed to break below 1.2831 support and moved sideways in a trading range between 1.2831 and 1.2988. As long as 1.2831 support holds, the sideways movement could be treated as consolidation of the uptrend from 1.2365, and further rise to 1.3100 area is still possible after the consolidation. On the downside, a breakdown below … Continue reading "GBPUSD Daily Analysis – May 16, 2017"

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EURUSD Daily Analysis – May 16, 2017 Forex Analysis

EURUSD is facing 1.1021 resistance. A break of this level will indicate that the uptrend from 1.0569 has resumed, then next target would be at 1.1100 area. On the downside, as long as 1.1021 resistance holds, the rise from 1.0839 would possibly be correction of the downtrend from 1.1021, another fall towards 1.0700 is still … Continue reading "EURUSD Daily Analysis – May 16, 2017"

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