GBPUSD Analysis.
GBPUSD formed a sideways consolidation in a range between 1.9760 and 1.9971. Further rally to 2.0050 area to reach the next short term cycle top on 4-hour chart is still possible, and the next cycle top is nearing. Key support is now at 1.9760, a break of this level will confirm the cycle top, and then pullback to test 1.9337 (Jan 22 low) is expected to follow.
EURUSD Analysis.
EURUSD’s up trend from 1.4438 extends to as high as 1.5238. Further rise to 1.5300 area to reach the next short term cycle top is still possible and the next cycle top is nearing. Key support is now at 1.5072, a break of this level will confirm the cycle top.
USDJPY Analysis.
USDJPY’s down trend from 108.21 extends to as low as 102.93. Further fall to test the long term support at 101.65 (2005 low) is expected. Near term resistance is at 104.35, as long as this resistance holds, down trend will continue.
USDCHF Analysis.
USDCHF’s down trend remains and reaches as low as 1.0321. Deeper decline to 1.0200 area to reach the next short term cycle bottom on 4-hour chart is still possible. Near term resistance is at 1.0525, as long as this resistance holds, down trend will continue.
USDCAD Analysis.
USDCAD broke above 0.9831 resistance and formed a short term cycle bottom at 0.9709 level. Consolidation in a range between 0.9709 and 1.0000 is expected. Near term support is at 0.9709, only break of this level will signal the resumption of the down trend.
AUDUSD Analysis.
AUDUSD breaks below the rising price channel support and formed a short term cycle top at 0.9496 level. Further pullback to 0.9200 area is still possible in a couple of days. Key resistance is at 0.9496, only break of this level will signal the resumption of the up trend.
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