USDCAD Daily Analysis – August 14, 2017 Forex Analysis

USDCAD broke below the bullish support trend line on its 4-hour chart and is now facing 1.2650 key support. A breakdown below this level will indicate that the short term uptrend from 1.2413 had completed at 1.2752 already, then the following downside movement could bring price back to test 1.2413 support. On the upside, as … Continue reading "USDCAD Daily Analysis – August 14, 2017"

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USDJPY Daily Analysis – August 14, 2017 Forex Analysis

USDJPY stays below a bearish trend line on its 4-hour chart and remains in the downtrend from 114.49. As long as the price is below the trend line, the bounce from 108.73 could be treated as consolidation of the downtrend, and further decline to test 108.13 (Apr 17 low) support is still possible. Only a … Continue reading "USDJPY Daily Analysis – August 14, 2017"

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AUDUSD Daily Analysis – August 14, 2017 Forex Analysis

AUDUSD broke above the bearish trend line on its 4-hour chart, indicating that the downside movement from 0.8065 had completed at 0.7838 already. Further rally could be expected and next target would be at 0.8000 area. Support is at 0.7838, only a breakdown below this level could trigger another fall towards 0.7800.

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GBPUSD Daily Analysis – August 14, 2017 Forex Analysis

GBPUSD rebounded from 1.2939 after failing in its attempt to break below 1.2932 support. A break above 1.3030 resistance will indicate that the short term downtrend from 1.3267 had completed at 1.2939 already, then the following upside movement could bring price back into 1.3120 zone. On the downside, a breakdown below 1.2932 support will confirm … Continue reading "GBPUSD Daily Analysis – August 14, 2017"

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EURUSD Daily Analysis – August 14, 2017 Forex Analysis

EURUSD’s bounce from 1.1689 extended to as high as 1.1847. Further rise to test 1.1909 resistance would likely be seen. However, as long as 1.1909 resistance holds, the downside movement could be expected to resume and another fall towards the bottom support trend line of the price channel on its daily chart is still possible.

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