GBPUSD Analysis.
Being contained by the upper border of the falling price channel on 4-hour chart, GBPUSD pulls back from 1.6441 level, suggesting that a short term cycle top is being formed. Key support is now located at 1.6286, a break below this level will confirm the cycle top and indicate that the fall from 1.6441 is resumption of downtrend from 1.7042, then deeper decline could be seen to re-test 1.6113 previous low support.
USDCAD Analysis.
After breaking below 1.0966 level, USDCAD dropped sharply to as low as 1.0740 level. Small consolidation is expected before breaking below 1.0718 previous low support. Near term resistance is at 1.0850, as long as this level holds, we’d expect downtrend from 1.1101 to continue and deeper decline could be seen to test 1.0632 key support.
AUDUSD Analysis.
AUDUSD remains in uptrend from 0.8239, further rise is still possible to 0.8700 zone in a couple of days. Near term support is at 0.8500 followed by 0.8450, as long as these levels hold, we would expect uptrend to continue.
Forex Signal
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment