EURUSD Analysis.
After testing the support of the upward trend line on 4-hour chart, EURUSD rebounded from 1.3077. The bounce would possibly be resumption of uptrend from 1.2624, further rise is expected later today, and next target would be at 1.3300 area. On the other side, a breakdown below 1.3077 will suggest that a cycle top has been formed at 1.3233 on 4-hour chart, then pullback towards 1.2800-1.2900 area could be seen.
AUDUSD Analysis.
AUDUSD is in uptrend from 1.0145, the price action from 1.0687 is treated as consolidation of uptrend. Another rise towards 1.0900 could be expected after consolidation, and a break above 1.0687 will signal resumption of the uptrend. Key support is now at 1.0526, only break below this level could indicate that the rise from 1.0145 is complete.
USDCHF Analysis.
USDCHF stays below a downward trend line on 4-hour chart, and remains in downtrend. As long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 0.9000 area.
USDJPY Analysis.
USDJPY broke below 76.55 support and reached as low as 76.21. Further decline would likely be seen after a minor consolidation, and the target would be at 76.00 area. Resistance is now at 76.75, only break above this level could signal completion of the downtrend from 78.28.
USDCAD Analysis.
USDCAD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.0318, the price action from 0.9981 is treated as consolidation of downtrend. Resistance is at the downward trend line, as long as the trend line resistance holds, downtrend could be expected to resume, and another fall towards 0.9900 is still possible.
GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5236. Further rise would likely be seen later today, and next target would be at 1.5800 area. Key support is now at 1.5640, only break below this level could signal completion of the uptrend.
Comments are closed.