USDCAD Daily Analysis – August 6, 2020

by ForexCycle.com | August 5, 2020 10:36 pm
USDCAD stays in a falling price channel on the 4-hour chart and remains in the downtrend from 1.3715. As long as the channel resistance holds, the downside movement could be expected to continue and next target would...

USDJPY Daily Analysis – August 6, 2020

by ForexCycle.com | August 5, 2020 10:36 pm
USDJPY stays below a falling trend line on the 4-hour chart and remains in the downtrend from 108.16. As long as the trend line resistance holds, the bounce from 104.18 could be treated as corrective consolidation for...

AUDUSD Daily Analysis – August 6, 2020

by ForexCycle.com | August 5, 2020 10:35 pm
AUDUSD broke above 0.7227 resistance, suggesting that the uptrend from 0.6776 has resumed. Further rise could be expected in the coming days, and next target would be at 0.7350 area. Key support is at 0.7063, only break...

GBPUSD Daily Analysis – August 6, 2020

by ForexCycle.com | August 5, 2020 10:34 pm
GBPUSD is facing 1.3169 resistance. A breakout of this level could trigger further upside movement to 1.3300 area. Near term support is at 1.3050, a breakdown below this level could bring the price back into 1.2850 zone.

EURUSD Daily Analysis – August 6, 2020

by ForexCycle.com | August 5, 2020 10:34 pm
EURUSD is facing 1.1908 resistance. A break of this level could signal resumption of the uptrend from 1.1168, then next target would be at 1.2000 area. Key support level is at 1.1695, only a breakdown below this...

USDCAD Daily Analysis – August 5, 2020

by ForexCycle.com | August 5, 2020 3:40 am
USDCAD broke below 1.3330 support and extended its downside movement from 1.3715 to as low as 1.3282. Further decline could be expected in the coming days and next target would be at 1.3200 aera. Near term resistance...

USDJPY Daily Analysis – August 5, 2020

by ForexCycle.com | August 5, 2020 3:39 am
USDJPY failed to break above the resistance of the falling trend line on the 4-hour chart and pulled back from 106.47. As long as the trend line resistance holds, the downtrend from 108.16 could be expected to...

AUDUSD Daily Analysis – August 5, 2020

by ForexCycle.com | August 5, 2020 3:33 am
AUDUSD moved sideways in a trading range between 0.7063 and 0.7227. As long as the price is above the rising trend line on the 4-hour chart, the sideways movement could be treated as consolidation for the uptrend...

GBPUSD Daily Analysis – August 5, 2020

by ForexCycle.com | August 5, 2020 3:32 am
GBPUSD broke below the rising trend line on the 4-hour chart, suggesting that lengthier consolidation for the uptrend from 1.2251 is underway. Range trading between 1.2850 and 1.3169 would likely be seen in the coming days.

EURUSD Daily Analysis – August 5, 2020

by ForexCycle.com | August 5, 2020 3:31 am
EURUSD is forming a sideways consolidation in a trading range between 1.1695 and 1.1908. As long as the price is above the rising trend line on the 4-hour chart, the upside movement from 1.1168 could be expected...