GBPUSD Daily Analysis – May 24, 2017
GBPUSD pair found resistance at the top of the price channel on 4-hour chart and pulled back into 1.2955 zone. Deeper decline would likely be seen and the target would be at the bottom support line of...
Tag: Price Channel
USDJPY Daily Analysis – May 23, 2017
USDJPY moved out of the price channel on 4-hour chart, indicating that the downward movement from 114.36 had completed at 110.23 already. Near term resistance is now at 111.73, a break of this level could trigger a...
GBPUSD Daily Analysis – May 23, 2017
GBPUSD remains in uptrend from 1.2365. As long as the pair is in the ascending price channel on 4-hour chart, the uptrend could be expected to continue and further rise to 1.3100 area is still possible. Near...
USDJPY Daily Analysis – May 22, 2017
USDJPY is facing the resistance of the descending price channel on 4-hour chart, a clear break out of the channel resistance will indicate that the fall from 114.36 had completed at 110.23 already, then the following rally...
GBPUSD Daily Analysis – May 22, 2017
GBPUSD moved in an ascending price channel on 4-hour chart which provides resistance at the top trend line and support at the bottom trend line. As long as the pair is in the channel, the uptrend from...
How to Use Trend Lines to Make Successful Forex Transactions Every Time
Trend lines are a useful visual tool for Forex traders. They provide a pictorial representation of which direction a currency pair is moving in, so that a trader can determine whether it is a good time to...
USDCAD Weekly Analysis – May 20, 2017
Under pressure by the top of the price channel on daily chart, USDCAD pulled back from 1.3793 and the fall extended to as low as 1.3508. Further decline could be expected in a couple of weeks and...
USDCNH Broke Below Channel Support
USDCNH broke below the bottom trend line from 6.8680 to 6.8837 of the price channel on the 4-hour chart, indicating that the short term uptrend from 6.8680 had completed at 6.9171 already. The subsequent downward movement extended...
GBPUSD Short-Term Channel (May 19, 2017)
GBPUSD enjoyed additional volatility recently but is still trading safely inside its ascending channel on the 1-hour time frame. Price just bounce off support and could be due for another test of resistance. The 100 SMA is...
USDJPY Daily Analysis – May 19, 2017
USDJPY’s fall from 114.36 extended to as low as 110.23. Further decline is still possible after a minor consolidation and next target would be at around 109.60. Near term resistance is at the top of the price...