USDCAD Daily Analysis - October 10, 2016 Forex Analysis

USDCAD's upward movement from 1.3047 extended to as high as 1.3313. Support is located at the bottom of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.3400 area. On the downside, a clear break below the channel support will indicate that the uptrend had completed at 1.3313 already, then the following downward movement could bring price back to 1.3000 zone.

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USDJPY Daily Analysis - October 10, 2016 Forex Analysis

USDJPY failed to break above 104.31 resistance. However, another rise to test this level is still possible after a minor consolidation. Support is at 102.30, only break below this level could bring price back to 100.50 zone.

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AUDUSD Daily Analysis - October 10, 2016 Forex Analysis

AUDUSD's downward movement from 0.7710 extended to as low as 0.7552. Further decline is still possible in a couple of days, and next target would be at 0.7400 area. Resistance is at 0.7660, only break above this level could signal completion of the downtrend.

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GBPUSD Daily Analysis - October 10, 2016 Forex Analysis

GBPUSD's downward movement from 1.3445 extended to as low as 1.1946. Consolidation is needed over the next several days, and the trading range would be between 1.2150 and 1.2550.

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EURUSD Daily Analysis - October 10, 2016 Forex Analysis

EURUSD stays below the downward trend line on 4-hour chart, and remains in short term downtrend from 1.1279. As long as the trend line resistance holds, the rise from 1.1104 could be treated as consolidation of the downtrend. Further decline is still possible, and next target would be at 1.1000 area. On the upside, a clear break above the trend line resistance will indicate that the downward movement had completed at 1.1104 already, then further rise to test 1.1326 resistance could be seen.

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USDCAD Daily Analysis - October 6, 2016 Forex Analysis

USDCAD is in downtrend from 1.3280, the rise from 1.3047 would possibly be correction of the downtrend. As long as 1.3280 resistance holds, the downtrend could be expected to resume, and another fall towards 1.3000 is possible. On the upside, a break of 1.3280 resistance will indicate that the uptrend from 1.2763 (Aug 18 low) has resumed, then next target would be at 1.3500 area.

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USDJPY Daily Analysis - October 6, 2016 Forex Analysis

USDJPY's upward movement from 100.08 extended to as high as 103.66. Further rise could be expected after a minor consolidation, and next target would be at 106.00 area. Support is at 102.50, as long as this level holds, the uptrend will continue.

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