USDCAD broke below the ascending trend line on its 4-hour chart, indicating that the rise from 1.3387 is complete. Deeper decline to test 1.3387 support would likely be seen and a breakdown below this level will confirm that the downtrend from 1.3793 has resumed, then the following downward movement could bring price into 1.3200 zone. … Continue reading "USDCAD Daily Analysis – June 6, 2017"
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Monday 5 June 2017
USDJPY Daily Analysis – June 6, 2017 Forex Analysis
USDJPY is facing 110.23 support. A breakdown below this level will indicate that the downtrend from 114.36 has resumed, then further decline to 109.60 area could be seen. Resistance level are at 111.30 and 112.13, only break above these levels could trigger another rise towards 115.00.
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AUDUSD Daily Analysis – June 6, 2017 Forex Analysis
AUDUSD broke above the resistance of the descending trend line on the 4-hour chart, indicating that the downward movement from 0.7517 had completed at 0.7371 already. Further rise to test 0.7517 resistance could be seen after a minor consolidation, a break through this level could take price to the next resistance level at 0.7550. Support … Continue reading "AUDUSD Daily Analysis – June 6, 2017"
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GBPUSD Daily Analysis – June 6, 2017 Forex Analysis
No changed in our view, GBPUSD remains in downtrend from 1.3047, the rise from 1.2769 could be treated as correction of the downtrend. Resistance is at the rising trend line on the 4-hour chart now at around 1.2940. As long as the pair is below the trend line, the downtrend could be expected to resume, … Continue reading "GBPUSD Daily Analysis – June 6, 2017"
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EURUSD Daily Analysis – June 6, 2017 Forex Analysis
EURUSD broke above 1.1267 resistance and is now in uptrend from 1.1109. 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 will indicate that lengthier consolidation for the longer term uptrend from 1.0569 (Apr … Continue reading "EURUSD Daily Analysis – June 6, 2017"
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