USDCAD is facing 1.3540 resistance. A break of this level will indicate that the bearish movement from 1.3793 had completed at 1.3387 already, then the following bullish movement could bring price towards 1.3800. On the downside, as long as the pair is below 1.3540 resistance, the bounce from 1.3387 could be treated as consolidation of … Continue reading "USDCAD Daily Analysis – June 2, 2017"
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Thursday 1 June 2017
USDJPY Daily Analysis – June 2, 2017 Forex Analysis
USDJPY breaks above 111.50 resistance, suggesting that the short term downtrend from 112.13 is complete. Further rally to test 112.13 resistance could be expected and a break through this level could take price to the next resistance level at around 113.70.
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AUDUSD Daily Analysis – June 2, 2017 Forex Analysis
AUDUSD broke below 0.7416 support and continued its short term bearish movement from 0.7517. Further decline to test 0.7328 support is possible in a couple days, a break through this level could take price to next support level at around 0.7250. Resistance is located at the falling trend line on the 4-hour chart, only a … Continue reading "AUDUSD Daily Analysis – June 2, 2017"
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GBPUSD Daily Analysis – June 2, 2017 Forex Analysis
GBPUSD is facing the resistance of the ascending trend line at around 1.2930 on its 4-hour chart. As long as the pair is below the trend line, the bounce from 1.2769 could be treated as consolidation of the downtrend from 1.3047, and another decline towards 1.2700 is still possible after the consolidation. Only a clear … Continue reading "GBPUSD Daily Analysis – June 2, 2017"
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EURUSD Daily Analysis – June 2, 2017 Forex Analysis
EURUSD is facing 1.1267 resistance, a break of this level will confirm that the uptrend from 1.0569 (Apr 10 low) has resumed, then the following bullish movement could bring price into 1.1450 zone. Near term support is at 1.1190, only a breakdown below this level will indicate that lengthier consolidation for the uptrend is needed, … Continue reading "EURUSD Daily Analysis – June 2, 2017"
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