EURUSD Daily Analysis – October 2, 2017 Forex Analysis

EURUSD stays in a descending price channel on its 4-hour chart and remains in the downtrend from 1.2029. As long as the price is in the channel, the bounce from 1.1717 could be treated as consolidation of the downtrend. Further decline to test 1.1662 key support would likely be seen after the consolidation. A breakdown … Continue reading "EURUSD Daily Analysis – October 2, 2017"

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USDCAD Daily Analysis – September 27, 2017 Forex Analysis

USDCAD continued its short term uptrend from 1.2061 and the rise extended to as high as 1.2413, facing the resistance of the top trend line of the price channel on the daily chart. Near term support is at 1.2250, followed by the rising trend line on the 4-hour chart, only a clear break below the … Continue reading "USDCAD Daily Analysis – September 27, 2017"

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USDJPY Daily Analysis – September 27, 2017 Forex Analysis

USDJPY moved sideways in a trading range between 111.47 and 112.71. The sideways movement is likely consolidation of the uptrend from 107.31. A break of 112.71 resistance could trigger another rise towards 114.00. Near term support is now at 111.47, only a breakdown below this level would indicate that correction of the uptrend is underway, … Continue reading "USDJPY Daily Analysis – September 27, 2017"

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AUDUSD Daily Analysis – September 27, 2017 Forex Analysis

AUDUSD extended its downside movement from 0.8124 to as low as 0.7859. Deeper decline to test 0.7807 support would likely be seen in a couple of days. Below this level could confirm that the uptrend from 0.7328 (May 9 low) had completed at 0.8124 already, then the pair would find next support at the resistance-turned-support … Continue reading "AUDUSD Daily Analysis – September 27, 2017"

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GBPUSD Daily Analysis – September 27, 2017 Forex Analysis

GBPUSD is facing the support of the bullish trend line on the 4-hour chart. A clear break below the trend line support will indicate the upside movement from 1.2774 had completed at 1.3652 already, then the following bearish move could bring price back towards next support level at 1.3150. On the upside, as long as … Continue reading "GBPUSD Daily Analysis – September 27, 2017"

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EURUSD Daily Analysis – September 27, 2017 Forex Analysis

EURUSD broke below 1.1823 support and fell down to as low as 1.1757. Further decline to test 1.1662 support would likely be seen in a couple of days. A breakdown below this level could indicate that the uptrend from 1.0569 (Apr 10 low) had completed at 1.2092 already, then the pair would find next support … Continue reading "EURUSD Daily Analysis – September 27, 2017"

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USDCAD Daily Analysis – September 25, 2017 Forex Analysis

USDCAD extended its short term upside movement from 1.2061 to as high as 1.2390. Further rally is still possible after a minor consolidation and next target would be at the top trend line of the price channel on the daily chart now at around 1.2465. Near term support is at 1.2250, followed by the rising … Continue reading "USDCAD Daily Analysis – September 25, 2017"

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