USDCAD Daily Analysis – May 23, 2017 Forex Analysis

USDCAD’s bearish movement from 1.3793 extended to as low as 1.3483. Further decline is still possible after consolidation and next target would be at 1.3400 area. Resistance is at the falling trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.

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USDJPY Daily Analysis – May 23, 2017 Forex Analysis

USDJPY moved out of the price channel on 4-hour chart, indicating that the downward movement from 114.36 had completed at 110.23 already. Near term resistance is now at 111.73, a break of this level could trigger a rally towards 113.50. Support is at 110.23, only a breakdown below this level could bring price back to … Continue reading "USDJPY Daily Analysis – May 23, 2017"

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AUDUSD Daily Analysis – May 23, 2017 Forex Analysis

AUDUSD broke above the descending trend line 4-hour chart, indicating that the bearish movement from the March 21 high of 0.7749 had completed at 0.7328 already. The pair is now in uptrend. As long as the pair is above the rising trend line on 4-hour chart, the uptrend could be expected to continue, and next … Continue reading "AUDUSD Daily Analysis – May 23, 2017"

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GBPUSD Daily Analysis – May 23, 2017 Forex Analysis

GBPUSD remains in uptrend from 1.2365. As long as the pair is in the ascending price channel on 4-hour chart, the uptrend could be expected to continue and further rise to 1.3100 area is still possible. Near term support is at the bottom of the price channel, and the key support is at 1.2844, only … Continue reading "GBPUSD Daily Analysis – May 23, 2017"

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EURUSD Daily Analysis – May 23, 2017 Forex Analysis

EURUSD’s bullish movement extended to as high as 1.1263. Near term support is at the rising trend line on 4-hour chart. As long as the trend line support holds, the bullish movement could be expected to continue and next target would be at around 1.1350. The key support is now at 1.1161, only a breakdown … Continue reading "EURUSD Daily Analysis – May 23, 2017"

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