USDCAD broke below the important support at 1.2460 (May 2016 low), confirming that the long term downtrend from 1.4689 (Jan 20, 2016 high) has resumed. Further decline could be expected after correction and the long term target would be at 1.1500 area. However, correction is needed after breaking below an important support level, and a … Continue reading "USDCAD Daily Analysis – July 27, 2017"
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Thursday 27 July 2017
USDJPY Daily Analysis – July 27, 2017 Forex Analysis
USDJPY failed to break above 112.41 resistance and pulled back to 110.80 area, facing the 110.62 support. As long as 110.62 support holds, the fall could be treated as correction of the uptrend from 110.62 and another rise to test 112.41 resistance is possible. On the downside, a breakdown below 110.62 support will signal resumption … Continue reading "USDJPY Daily Analysis – July 27, 2017"
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AUDUSD Daily Analysis – July 27, 2017 Forex Analysis
After a sideways consolidation, AUDUSD broke above 0.7989 resistance and continued its bullish movement from 0.7571, and the rise extended to as high as 0.8065. Further rise could be expected and next target would be at 0.8150 area. Key support is now at 0.7875, only a breakdown below this level could signal completion of the … Continue reading "AUDUSD Daily Analysis – July 27, 2017"
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GBPUSD Daily Analysis – July 27, 2017 Forex Analysis
After consolidation, GBPUSD continued its upside movement from 1.2589 and reached as high as 1.3156. Further rise is still possible and next target would be at 1.3200 area. Support is now at the rising trend line on the 4-hour chart, as long as the trend line support holds, the uptrend will continue.
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EURUSD Daily Analysis – July 27, 2017 Forex Analysis
EURUSD’s bullish movement extended to as high as 1.1776. Near term support is at the rising trend line on the 4-hour chart. As long as the trend line support holds, the uptrend could be expected to continue and next target would be at 1.1900 area. Only a clear break below the trend line support could … Continue reading "EURUSD Daily Analysis – July 27, 2017"
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