Thursday, 20 October 2016

USDCAD Daily Analysis - October 21, 2016 Forex Analysis

USDCAD's rise from 1.3005 extended to as high as 1.3248. Further rise to test 1.3313 resistance could be expect after a minor consolidation. Support levels are at 1.3200 and 1.3160, as long as these levels hold, the uptrend will continue.

usdcad chart


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AUDUSD Daily Analysis - October 21, 2016 Forex Analysis

AUDUSD broke below 0.7650 support, indicating that the uptrend from 0.7506 had completed at 0.7734 already. Further decline could be expected over the next several days, and next target would be at 0.7500 area. Resistance levels are at 0.7680 and 0.7734, only break above these levels could trigger another rise towards 0.8000.

audusd chart


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EURUSD Daily Analysis - October 21, 2016 Forex Analysis

EURUSD stays in the downward price channel on 4-hour chart and remains in downtrend from 1.1279. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.0700 area. Key resistance is at 1.1039, only break above this level will indicate that the downtrend has completed, then the following upward movement could bring price back to 1.1250 zone.

eurusd chart


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Wednesday, 19 October 2016

USDCAD Daily Analysis - October 20, 2016 Forex Analysis

USDCAD rebounded strongly from 1.3005, indicating that the downward movement from 1.3313 had completed. Further rally could be expected over the next several days, and next target would be at 1.3250 area. Support level are at 1.3070 and 1.3005, only break below these levels could trigger another fall towards 1.2900.

usdcad chart


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AUDUSD Daily Analysis - October 20, 2016 Forex Analysis

AUDUSD's upward movement from 0.7506 extended to as high as 0.7734. Further rise is still possible after a minor consolidation, and next target would be at 0.7800 area. Support is at 0.7650, only break below this level will indicate that the uptrend had completed at 0.7734 already, then the following downward movement could bring price back to 0.7550 zone.

audusd chart


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EURUSD Daily Analysis - October 20, 2016 Forex Analysis

EURUSD's downward movement from 1.1279 extended to as low as 1.0954. Further decline is still possible after a minor consolidation and next target would be at 1.0900 area. Resistance levels are at 1.1025 and 1.1058, only break above these levels could signal completion of the downtrend.

eurusd chart


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Tuesday, 18 October 2016

USDCAD Daily Analysis - October 19, 2016 Forex Analysis

USDCAD is now in downtrend from 1.3313. Further decline could be expected over the next several days, and next target would be at 1.2900 area. Resistance is at 1.3183, as long as this level holds, the downtrend will continue.

usdcad chart


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