USDCAD Daily Analysis – August 3, 2017 Forex Analysis

USDCAD broke above 1.2575 resistance, indicating that the downtrend from 1.3347 had completed at 1.2413 already. Further rally could be expected in a couple of days and next target would be at around 1.2690, followed by 1.2740. However, the rally from 1.2413 would possibly be correction of the downtrend from 1.3793 (May 5 high), another … Continue reading "USDCAD Daily Analysis – August 3, 2017"

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USDJPY Daily Analysis – August 3, 2017 Forex Analysis

USDJPY remains in the downtrend from 114.49, the bounce from 109.91 is likely consolidation of the downtrend. Near term resistance is at the top trend line of the price channel on the 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to continue and next target would be at 109.00 … Continue reading "USDJPY Daily Analysis – August 3, 2017"

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AUDUSD Daily Analysis – August 3, 2017 Forex Analysis

AUDUSD continued its sideways movement in a range between 0.7875 and 0.8065. Key support is at 0.7875, as long as this level holds, the uptrend could be expected to resume and another rise towards 0.8150 is still possible after the consolidation. Only a breakdown below 0.7875 support could signal completion of the uptrend.

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GBPUSD Daily Analysis – August 3, 2017 Forex Analysis

GBPUSD stays above a bullish trend line on its 4-hour chart and remains in uptrend from 1.2932. As long as the trend line support holds, the uptrend could be expected to continue and next target would be at 1.3300 area. Only a clear break below the trend line support will indicate that the upside movement … Continue reading "GBPUSD Daily Analysis – August 3, 2017"

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EURUSD Daily Analysis – August 3, 2017 Forex Analysis

EURUSD’s bullish movement from 1.1312 extended to as high as 1.1908. As long as the pair is in the rising price channel on its 4-hour chart, the bullish move could be expected to continue and next target would be at 1.2000 area. On the downside, a clear break below the bottom support trend line of … Continue reading "EURUSD Daily Analysis – August 3, 2017"

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