USDJPY Daily Analysis – August 1, 2023

by ForexCycle.com | August 1, 2023 7:11 am
USDJPY has successfully broken above the resistance level at 141.94, indicating the resumption of the uptrend from 137.23. With this breakout, it becomes plausible to anticipate further upward movement in the upcoming days. The next potential target...

AUDUSD Daily Analysis – August 1, 2023

by ForexCycle.com | August 1, 2023 7:02 am
AUDUSD is currently below the descending trend line on the 4-hour chart, indicating its continued downtrend from 0.6894. The recent price action from 0.6622 is likely a period of consolidation within this downtrend. As long as the...

GBPUSD Daily Analysis – August 1, 2023

by ForexCycle.com | August 1, 2023 6:54 am
GBPUSD is currently experiencing a downtrend that initiated from 1.3141, and the recent bounce from 1.2762 is likely a consolidation phase within this downtrend. As long as the resistance of the trend line remains intact, it is...

EURUSD Daily Analysis – August 1, 2023

by ForexCycle.com | August 1, 2023 6:43 am
The EURUSD pair remains entrenched in a downtrend, stemming from 1.1275. The recent bounce from 1.0943 is likely a period of consolidation within the overall downtrend. As long as the price stays below the falling trend line...