USDCAD Daily Analysis – August 23, 2017 Forex Analysis

USDCAD remains in the short term downtrend 1.2778. Further decline to test 1.2413 support is still possible in the coming days. Near term resistance is at the top trend line of the price channel on its 4-hour chart, only a clear break above the channel resistance could bring price back to test 1.2778 resistance.

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USDJPY Daily Analysis – August 23, 2017 Forex Analysis

USDJPY broke above 109.59 resistance, indicating that the short term downtrend from 110.94 is complete. Further rally could be expected in a couple of days and next target would be at 110.60 area. On the downside, as long as 110.94 resistance holds, the price action from 108.73 would possibly be consolidation of the downtrend from … Continue reading "USDJPY Daily Analysis – August 23, 2017"

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AUDUSD Daily Analysis – August 23, 2017 Forex Analysis

AUDUSD failed to break above 0.7962 resistance and pulled back to 0.7880 area. However, the fall would possibly be correction of the uptrend from 0.7807 and another rise towards 0.8065 could be expected after the correction. Support levels are at 0.7870 and 0.7807, only break below these levels could trigger another fall towards 0.7700.

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GBPUSD Daily Analysis – August 23, 2017 Forex Analysis

GBPUSD extended its downside movement from 1.3267 after failing in its attempt to break above 1.2915 resistance. Further decline is still possible and next target would be at 1.2750 area. Only break above 1.2915 resistance could signal completion of the downtrend.

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EURUSD Daily Analysis – August 23, 2017 Forex Analysis

EURUSD moved sideways in a trading range between 1.1662 and 1.1909. The sideways movement could be treated as consolidation of the uptrend from 1.0569 (Apr 10 low), and deeper decline towards the bottom support trend line of the price channel on its daily chart to complete the consolidation is possible. Resistance is at 1.1909, only … Continue reading "EURUSD Daily Analysis – August 23, 2017"

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