EURUSD Analysis.
EURUSD’s uptrend from 1.4177 extends to as high as 1.4599 level. Further rise is still in favor and next target would be at 1.4650-1.4700 area. Near term support is at 1.4467, as long as this level holds, uptrend will continue. However, a break below 1.4467 level will indicate that a short term cycle top has been formed on 4-hour chart, then deeper decline is expected to follow and target would be at 1.4400 zone.
GBPUSD Analysis.
GBPUSD stays in a rising price channel on 4-hour chart and remains in sort term uptrend form 1.6113. As long as the channel support holds, we’d expect uptrend to continue. Key support is now located at 1.6454, below this level will suggest that a short term cycle top has been formed, then pullback to 1.6250 could be seen to follow.
USDCAD Analysis.
USDCAD is forming a short term cycle bottom at 1.0673 level on 4-hour chart. Consolidation in a range between 1.0673 and 1.0900 is expected in a couple of days. Key support is now located at 1.0632, below this level will indicate that the downtrend from 1.1723 has resumed.
Forex Signals
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