After touching 1.3540 resistance, USDCAD pullback to 1.3480, indicating that the pair remains in downtrend from 1.3793 and the bounce from 1.3387 could be treated as consolidation of the downtrend. As long as 1.3540 resistance holds, the downtrend could be expected to continue and further decline towards 1.3200 is still possible after the consolidation. Only … Continue reading "USDCAD Daily Analysis – June 5, 2017"
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Sunday 4 June 2017
USDJPY Daily Analysis – June 5, 2017 Forex Analysis
USDJPY is testing 110.23 support. A breakdown below this level will signal resumption of the downtrend from 114.36, then next target would be at around 109.60. Resistance is at 112.13, only a break of this level could trigger another rise towards 115.00.
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AUDUSD Daily Analysis – June 5, 2017 Forex Analysis
AUDUSD is facing the resistance of the bearish trend line on the 4-hour chart. A clear break of the trend line resistance will indicating that the downside movement from 0.7517 had completed at 0.7371 already, then the following bullish movement could bring price to the next resistance level at 0.7517. On the downside, as long … Continue reading "AUDUSD Daily Analysis – June 5, 2017"
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GBPUSD Daily Analysis – June 5, 2017 Forex Analysis
GBPUSD remains in downtrend from 1.3047, the bounce from 1.2769 could be treated as consolidation of the downtrend. Near term resistance is at the ascending trend line on the 4-hour chart now at around 1.2935. As long as the trend line resistance holds, the downtrend could be expected to resume, and further decline towards 1.2700 … Continue reading "GBPUSD Daily Analysis – June 5, 2017"
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EURUSD Daily Analysis – June 5, 2017 Forex Analysis
EURUSD broke above 1.1267 resistance, indicating that the uptrend from 1.0569 (Apr 10 low) has resumed. Further rise could be expected over the next several days and next target would be at 1.1450 area. Near term support is at 1.1200, only a breakdown below this level could bring price back to the next support level … Continue reading "EURUSD Daily Analysis – June 5, 2017"
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