USDCAD Daily Analysis – August 1, 2017 Forex Analysis

USDCAD moved sideways in a narrow range between 1.2413 and 1.2575. As long as the price is below the bearish trend line on its 4-hour chart, the sideways movement could be treated as consolidation of the downtrend from 1.3347 and further decline to 1.2200 area is still possible. The key resistance is at 1.2575, only … Continue reading "USDCAD Daily Analysis – August 1, 2017"

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USDJPY Daily Analysis – August 1, 2017 Forex Analysis

USDJPY’s bearish movement from 112.19 extended to as low as 110.21. Further decline is still possible and next target would be at 109.00 area. Near term resistance is at 110.90, only break above this level could bring price back into 111.60 zone.

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AUDUSD Daily Analysis – August 1, 2017 Forex Analysis

AUDUSD remains in uptrend from 0.7571, the fall from 0.8065 is likely consolidation of the uptrend. Range trading between 0.7875 and 0.8065 would likely be seen in a couple of days. As long as 0.7875 support holds, the uptrend could be expected to resume and further rise to 0.8150 area is still possible. Only a … Continue reading "AUDUSD Daily Analysis – August 1, 2017"

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GBPUSD Daily Analysis – August 1, 2017 Forex Analysis

GBPUSD stays above a bullish trend line on the 4-hour chart and remains in uptrend from 1.2932, and the rise extended to as high as 1.3224. Further rise could be expected after a minor consolidation and next target would be at 1.3300 area. Only a clear break below the trend line support could bring price … Continue reading "GBPUSD Daily Analysis – August 1, 2017"

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EURUSD Daily Analysis – August 1, 2017 Forex Analysis

EURUSD’s bullish movement from 1.1312 extended to as high as 1.1845. Near term support is at the bottom trend line of the price channel on the 4-hour chart. As long as the price is in the channel, the uptrend could be expected to continue and next target would be at 1.2000. On the downside, a … Continue reading "EURUSD Daily Analysis – August 1, 2017"

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