USDCAD Daily Analysis – May 19, 2017 Forex Analysis

USDCAD’s bearish move extended to as low as 1.3571. Further decline could be expected after a minor consolidation and next target would be at 1.3500 area. Resistance is at 1.3670, only move about this level could trigger another rise towards 1.3900.

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USDJPY Daily Analysis – May 19, 2017 Forex Analysis

USDJPY’s fall from 114.36 extended to as low as 110.23. Further decline is still possible after a minor consolidation and next target would be at around 109.60. Near term resistance is at the top of the price channel on 4-hour chart, only a clear break above the channel resistance will suggest that the downward movement … Continue reading "USDJPY Daily Analysis – May 19, 2017"

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AUDUSD Daily Analysis – May 19, 2017 Forex Analysis

Under pressure by the resistance of the descending trend line on 4-hour chart, AUDUSD pulled back from 0.7466. Another rise to test the trend line resistance is still possible after consolidation. As long as the pair is below the trend line, the rise from 0.7328 could be treated as correction of the downtrend from 0.7610 … Continue reading "AUDUSD Daily Analysis – May 19, 2017"

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GBPUSD Daily Analysis – May 19, 2017 Forex Analysis

GBPUSD’s upward movement from 1.2365 extended to as high as 1.3047. Further rise is still possible and next target would be at 1.3100 area. Near term support is at the bottom of the price channel on 4-hour chart, as long as the pair is in the channel, the upward movement could be expected to continue. … Continue reading "GBPUSD Daily Analysis – May 19, 2017"

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EURUSD Daily Analysis – May 19, 2017 Forex Analysis

EURUSD remains in uptrend from 1.0839, the fall from 1.1172 is likely consolidation of the uptrend. Range trading between 1.1070 and 1.1172 would likely be seen in a couple of days. Near term support is at 1.1070, only a breakdown below this level will indicate that lengthier consolidation for the longer term uptrend from 1.0569 … Continue reading "EURUSD Daily Analysis – May 19, 2017"

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