GBPUSD Analysis.
GBPUSD is in up trend. The pullback from 1.9971 is treated as consolidation to the up trend. Further rally to 2.0050 area to reach the next short term cycle top is still possible after consolidation. Key support is now at 1.9760, a break below this level will indicate that the consolidation from 1.9337 (Jan 22 low) to the long term down trend has completed, and further fall to retest 1.9337 previous low will be expected to follow.
EURUSD Analysis.
EURUSD’s up trend remains and extends to as high as 1.5228. Further rally to 1.5300 area to reach the next short term cycle top is still possible. Near term support is now at 1.5070, as long as this support holds, up trend will continue.
USDJPY Analysis.
USDJPY breaks below the long term support at 104.96 (Jan 23 low) and is now in down trend. Deeper decline to 102.00 area to reach the next short term cycle bottom is expected. Near term resistance is at 106.65, as long as this resistance holds, down trend will continue.
USDCHF Analysis.
USDCHF is in down trend and drops sharply to as low as 1.0482 level. Deeper decline to 1.0400 area to reach the next short term cycle bottom on 4-hour chart is still possible. Near term resistance is at 1.0645, as long as this resistance holds, down trend will continue.
USDCAD Analysis.
USDCAD dropped sharply from 1.0198 to as low as 0.9709 level. Further fall to 0.9600 area to reach the next cycle bottom on 4-hour chart is still possible after consolidation. Near term resistance is at 0.9831, as long as this resistance holds, we’d expect down trend to continue.
AUDUSD Analysis.
AUDUSD’s up trend remains, and the rise from 0.8512 extends to as high as 0.9496 level. Further rally to 0.9600 area is still possible after consolidation. Near term support is at the rising price channel, as long as the channel support holds, we’d expect up trend to continue.
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