USDCAD Analysis.
USDCAD’s up trend remains, and the rise from 0.9974 (July 15 low) extends to 1.0716 level. Initial support is at 1.0612, as long as this support holds, we’d expect up trend to continue, and further rise towards 1.1000 could be seen in next few days.
AUDUSD Analysis.
AUDUSD’s down trend extends further to as low as 0.8793 level. Consolidation would more likely be seen in a couple of days and rebound to test 0.8952 resistance is possible. However, down trend will resume after consolidation and deeper decline is still possible.
GBPUSD Analysis.
GBPUSD’s down trend remains, and the fall from 2.0158 (July 15 high) extends further to as low as 1.9053 level. Deeper decline towards 1.9000 is still possible later today. Near term resistance is now located at 1.9256, only break of this level will signal consolidation to down trend.
EURUSD Analysis.
EURUSD’s down trend remains, and the fall from 1.6038 (July 15 high) extends further to as low as 1.4879 level. Deeper decline towards 1.4700 is still possible later today. Initial resistance is at 1.5083, only rise above this level will signal consolidation to down trend.
USDJPY Analysis.
USDJPY is forming a sideways consolidation to up trend. Pullback to test 109.13 support is possible later today. As long as 109.13 support holds, we’d expect up trend to resume and further rise towards 112.00 could be seen after consolidation.
USDCHF Analysis.
USDCHF is in up trend, and the rise from 1.0010 (July 15 low) extends to as high as 1.0891 level. Further rise is still possible to 1.1000 area. Near term support is at 1.0741, only break below this level will signal consolidation to up trend.
Get Your Free Elliott Wave Tutorial Now!
See also:
Forex Articles
Forex Reviews
Powerful Profit System
Automate Your Trading Profits
Boost your Profit to Extreme