USDCAD Daily Analysis – June 16, 2017 Forex Analysis

USDCAD broke above 1.3300 resistance, indicating that consolidation of the downtrend from 1.3793 is underway. Range trading between 1.3164 and 1.3350 would likely be seen over the next several days. As long as 1.3350 resistance holds, the downtrend could be expected to resume, and another fall towards 1.3050 is still possible after the consolidation.

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USDJPY Daily Analysis – June 16, 2017 Forex Analysis

USDJPY broke above the descending trend line on its 4-hour chart, indicating that the bearish movement from 114.36 had completed at 108.81 already. Further rally could be expected over the next several days, and next target would be at 112.00 area. Support is at 109.70, as long as this level holds, the uptrend will continue.

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AUDUSD Daily Analysis – June 16, 2017 Forex Analysis

AUDUSD remains in uptrend from 0.7371, the pullback from 0.7635 is likely consolidation of the uptrend. Key support is at 0.7519, as long as the pair is above this level, the uptrend could be expected to continue, and next target would be at 0.7700. Only a breakdown below 0.7519 support could signal completion of the … Continue reading "AUDUSD Daily Analysis – June 16, 2017"

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GBPUSD Daily Analysis – June 16, 2017 Forex Analysis

GBPUSD remains in the downtrend from 1.3047, the bounce from 1.2634 could be treated as consolidation of the downtrend. Range trading between 1.2634 and 1.2850 would likely be seen in a couple of days. As long as 1.2850 resistance holds, the downtrend could be expected to resume and another fall towards 1.2500 is possible after … Continue reading "GBPUSD Daily Analysis – June 16, 2017"

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EURUSD Daily Analysis – June 16, 2017 Forex Analysis

EURUSD is forming sideways movement in a trading range between 1.1109 and 1.1295. As long as 1.1109 support holds, the sideways movement could be treated as consolidation of the uptrend from 1.0569 (Apr 10 low), and another rise towards 1.1450 is still possible after the consolidation. The key support is at 1.1070, only a breakdown … Continue reading "EURUSD Daily Analysis – June 16, 2017"

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