USDCAD moved sideways in a trading range between 1.2416 and 1.2538. As long as the price is in the bullish price channel on the 4-hour chart, the sideways movement could be treated as consolidation of the uptrend from 1.2061 and further rise towards 1.2700 could be expected after the consolidation. Resistance is at 1.2538, above … Continue reading "USDCAD Daily Analysis – October 5, 2017"
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Wednesday 4 October 2017
USDJPY Daily Analysis – October 5, 2017 Forex Analysis
USDJPY continued its sideways movement in a trading range between 112.21 and 113.25. As long as 112.21 support holds, the price action in the range could be treated as consolidation of the uptrend from 107.31, and further rise to 114.00 area is still possible after the consolidation. Resistance is at 113.25, a breakout of this … Continue reading "USDJPY Daily Analysis – October 5, 2017"
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AUDUSD Daily Analysis – October 5, 2017 Forex Analysis
AUDUSD broke above 0.7860 resistance, indicating that the downtrend from 0.8102 had completed at 0.7785 already. Further rally could be expected in the coming days and next target would be at 0.7930, followed by 0.7986. However, as long as as the price is below 0.7986 resistance, the bounce could be treated as correction of the … Continue reading "AUDUSD Daily Analysis – October 5, 2017"
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GBPUSD Daily Analysis – October 5, 2017 Forex Analysis
GBPUSD stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 1.3657. As long as the price is below the trend line, the downtrend could be expected to continue and next target would be at 1.3153. Below this level could trigger further decline towards the bullish trend line on … Continue reading "GBPUSD Daily Analysis – October 5, 2017"
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EURUSD Daily Analysis – October 5, 2017 Forex Analysis
EURUSD moved out of the descending price channel on its 4-hour chart, indicating that lengthier consolidation for the downtrend from 1.2029 is underway. The price is expected to test 1.1832 resistance, above this level could signal completion of the downtrend, then the following upside movement could take price to 1.1900 area. Break through this level … Continue reading "EURUSD Daily Analysis – October 5, 2017"
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