USDCAD stays above a rising trend line on the 4-hour chart and remains in the short term uptrend from 1.2413. As long as the price is above the trend line, the upside movement could be expected to continue and next target would be at 1.2740 area. Key support is at 1.2552, only a breakdown below … Continue reading "USDCAD Daily Analysis – August 7, 2017"
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Sunday 6 August 2017
USDJPY Daily Analysis – August 7, 2017 Forex Analysis
USDJPY remains in the downtrend from 114.49, the bounce from 109.83 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 7, 2017"
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AUDUSD Daily Analysis – August 7, 2017 Forex Analysis
AUDUSD moved sideways in a trading 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. Only a breakdown below 0.7875 support could signal completion of the uptrend from 0.7571.
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GBPUSD Daily Analysis – August 7, 2017 Forex Analysis
GBPUSD dropped sharply to 1.3020 area after breaking below the bullish trend line on its 4-hour chart, indicating that correction for the uptrend from 1.2589 is underway. Deeper decline to test next support level at 1.2980 is possible, below this level will signal completion of the uptrend, then the following bearish movement could bring price … Continue reading "GBPUSD Daily Analysis – August 7, 2017"
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EURUSD Daily Analysis – August 7, 2017 Forex Analysis
EURUSD rebounded from 1.1728 after touching the bottom support trend line of the price channel on its 4-hour chart, indicating that the pair remains in the bullish movement from 1.1312. Key support is now at 1.1728, as long as this level holds, the bullish move could be expected to continue and next target would be … Continue reading "EURUSD Daily Analysis – August 7, 2017"
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