EURUSD Analysis.
EURUSD failed to test 1.5144 previous high resistance, pullback towards 1.4900 zone to reach next cycle bottom on 4-hour chart would more likely be seen in a couple of days, however, a break below 1.5032 support is needed to confirm such case. On the other side, a break above 1.5144 level will signal resumption of longer term uptrend from 1.3748 (Jun 16 low), and then further rally is expected to 1.5200-1.5300 area.
GBPUSD Analysis.
GBPUSD failed to test 1.6745 resistance and dropped from 1.6721, suggesting that a short term cycle top has been formed on 4-hour chart. The fall from 1.6721 could possibly be resumption of downtrend from 1.6875 and another fall towards 1.6271 is now in favor. Key resistance is now located at 1.6721, only rise above this level would signal further rally to 1.6950-1.7000 area.
USDJPY Analysis.
USDJPY breaks above the falling trend line from 90.60 to 89.18, suggesting that the fall from 92.32 has completed at 84.82 level already. As long as 87.50 support holds Uptrend is expected to continue after a minor consolidation and next target would be at 90.00 zone.
AUDUSD Analysis.
AUDUSD might be forming a short term cycle top at 0.9321 level on 4-hour chart. Range trading between 0.9140 and 0.9321 would more likely be seen in a couple of days. However, the fall from 0.9321 is treated as consolidation of uptrend from 0.8946, one more rise towards 0.9500 is still possible after consolidation.
USDCAD Analysis.
USDCAD is in downtrend from 1.0748 and the rebound from 1.0405 is treated as correction of downtrend. One more fall towards 1.0206 (Oct 15 low) previous low is still possible after correction and a breakdown below 1.0405 could signal resumption of downtrend.
USDCHF Analysis.
USDCHF remains in sideways trading between 0.9917 and 1.0222. Lengthier consolidation in the trading range would more likely be seen in a couple of days and another rise to 1.0100 zone to reach next short term cycle top is possible.
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