USDCAD Daily Analysis - December 8, 2016 Forex Analysis

USDCAD continued its downward movement from 1.3588 and the fall extended to as low as 1.3213. Further decline is still possible after a minor consolidation, and next target would be at 1.3100 area. Resistance is at 1.3355, only break above this level could signal completion of the downtrend.

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AUDUSD Daily Analysis - December 8, 2016 Forex Analysis

AUDUSD broke above 0.7497 resistance, indicating that the uptrend from 0.7310 has resumed. Further rise could be expected in a couple of days, and next target would be at 0.7600 zone. Support is at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend will continue.

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GBPUSD Daily Analysis - December 8, 2016 Forex Analysis

GBPUSD is facing the support of the upward price channel on 4-hour chart. As long as the channel support holds, the fall from 1.2774 could be treated as consolidation of the uptrend from 1.2302 and further rise to 1.2900 area is still possible. On the downside, a clear break below the channel support will indicate that the uptrend had completed at 1.2774 already, then the following downward movement could bring price back to 1.2000 zone.

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AUDUSD Daily Analysis - December 7, 2016 Forex Analysis

AUDUSD failed to break above 0.7497 resistance. Another fall to test 0.7310 support would likely be seen in a couple of days, a breakdown below this level will confirm that the longer term downtrend from 0.7778 has resumed, then next target would be at 0.7200 area. On the upside, a break of 0.7497 resistance will indicate that the uptrend from 0.7310 has resumed, then the following upward movement could bring price to 0.7600 area.

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GBPUSD Daily Analysis - December 7, 2016 Forex Analysis

GBPUSD remains in uptrend from 1.2302, the fall from 1.2774 is likely consolidation of the uptrend. Support is at the bottom of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to resume, and further rise to 1.2900 area is still possible. Only a clear break below the channel support could signal completion of the uptrend.

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EURUSD Daily Analysis - December 7, 2016 Forex Analysis

EURUSD remains in uptrend from 1.0505, the fall from 1.0796 is likely consolidation of the uptrend. Further rise could be expected after consolidation and next target would be at 1.0900 area. Support is at 1.0600, only break below this level could trigger another fall towards 1.0300.

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USDCAD Daily Analysis - December 6, 2016 Forex Analysis

USDCAD's downward movement from 1.3588 extended to as low as 1.3235. Further decline is still possible, and next target would be at 1.3100 area. Resistance levels are at 1.3360 and 1.3390, only break above these levels will signal completion of the downtrend.

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