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EUR/USD Stays In A Bullish Price Channel
EUR/USD stays in a bullish price channel on its 4-hour chart and remains in the uptrend from 1.1312. As long as the price is in the channel, the uptrend could be expected to continue and the next target could be at the 1.2000 area.
EUR/USD’s Bullish Movement Extended To 1.1845
EURUSD’s bullish movement extended to 1.1845. As long as the price is in the channel, the uptrend could be expected to continue and next target would be at 1.2000.
GBP/USD Broke Above Channel Resistance
GBP/USD broke above the descending price channel at 1.3100 on its weekly chart, indicating that lengthier correction for the long term downtrend from the July 2014 high of 1.7190 is needed.
Gold Price Could Test 1300 Resistance
XAU/USD recently broke above the 1258.78 resistance and continued its bullish movement from the July 10 low of 1204.77, and the bullish movement extended as high as 1270.81.
USD/CAD Weekly Analysis – July 30, 2017
USD/CAD extended its bearish movement from 1.3793 to as low as 1.2413, and broke below 1.2460 (the May 2016 low) support, suggesting that the long term downtrend from 1.4689 (Jan 20, 2016 high) has resumed.
AUD/USD Pulled Back From 0.7989
Under pressure by the top trend line of the price channel on its monthly chart, AUD/USD pulled back from 0.7989 and moved sideways in a narrow range between 0.7875 and 0.7989.
USD/CNH Is Facing 6.7210 Support
The USD/CNH pair failed to settle above 6.8450 resistance and pulled back to 6.7400 area, facing the previous low support at 6.7210. As mentioned before, the pullback would possibly be a correction of the uptrend from 6.7210.
USD/CAD’s Bearish Movement Extended To 1.2483
USD/CAD’s bearish movement from 1.3347 extended to as low as 1.2483, facing the import support at 1.2460 (May 2016 low).
GBP/USD Remains In Uptrend From 1.2589
GBP/USD remains in an uptrend from 1.2589. The pullback from 1.3125 could be treated as a correction of the uptrend. A deeper decline towards the bottom trend line of the price channel on its 4-hour chart is possible in a couple of days.
Gold Price Broke Above Trend Line Resistance
XAU/USD recently broke above the support-turned-resistance trend line at 1237 on its daily chart, indicating that the downside movement from 1295.94 had completed at 1204.77 already.
Ethereum Rebounded From 20-Week Moving Average
Being supported by the 20-week moving average, ETHUSD rebounded strongly from 135, and broke above the bearish trend line from the June 12 high of 415 to the June 29 high of 315 at 196 on the 4-hour chart, and reached as high as 256.
USDCAD Remains In The Downtrend From 1.3347
USDCAD remains in the downtrend from 1.3347, the bounce from 1.2540 could be treated as consolidation of the downtrend.
AUD/USD Broke Above 0.7834 Resistance
AUD/USD recently broke above a major resistance at the April 2016 high of 0.7834, indicating that the sideways movement in the range between 0.7144 and 0.7834 is complete.
USD/JPY Daily Analysis – Tuesday, July 18
USD/JPY stays below a descending trend line on its 4-hour chart and remains in downtrend from 114.49.
USD/CAD Facing Important Support At 1.2460
The USD/CAD pair extended its bearish movement to as low as 1.2627, facing an important support level at the May 2016 low of 1.2460.
Bitcoin Is Facing Key Support At 1737
As long as the Bitcoin price is above 1737 level, the price action from 2737 could be treated as consolidation of the uptrend from 905, and another rise to test 3000 psychological resistance is still possible after the consolidation.
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