Forex Analysis

  • USDJPY Extends Rally, Eyes Further Upside Targets

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    The USD/JPY currency pair has recently witnessed a significant bullish move, extending its upside rally from the 151.86 level to as high as 155.69. This surge in momentum suggests that further gains could potentially be on the horizon for the pair. The next target for the bulls is the 156.50 level, followed by the 158.00…

  • USDCHF at a Crossroads, Key Support Level in Focus

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    The USD/CHF currency pair has witnessed a significant development, breaking below the rising trend line on the daily chart. This bearish move has brought the pair towards a crucial support level at 0.8997. As long as the 0.8997 support holds firm, the recent pullback from the 0.9223 high could be viewed as a consolidation phase…

  • USDJPY Bounces Back, Eyes Further Upside Potential

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    The USD/JPY currency pair has witnessed a significant price action, extending its downside move from the 160.21 level to as low as 151.86. However, the subsequent bounce from this low has reached as high as 154.52, suggesting that the downside move from 160.21 has likely completed. With this development, further rallies in the USD/JPY are…

  • USDCNH Breaks Key Support, Downside Risks Emerge

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    The USD/CNH currency pair has witnessed a significant bearish development, breaking below the critical 7.1713 support level. This breakdown suggests that the recent upside move from the 7.0869 low has likely completed at the 7.2826 high. With this bearish signal, further declines in the USD/CNH could be on the horizon in the coming days and…

  • AUDUSD Extends Rally, Eyes 0.6720 Target Amid Rising Channel

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    The Australian dollar has witnessed a significant bullish move against the US dollar, with the AUD/USD currency pair breaking above the 0.6586 resistance level and extending its upside move from the 0.6361 low to as high as 0.6646. This rally has propelled the AUD/USD into a well-defined rising price channel on the 4-hour chart. As…

  • GBPUSD Breaks Out, Bullish Momentum Builds

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    The British pound has witnessed a significant development against the US dollar, with the GBP/USD currency pair breaking above the falling trend line on the 4-hour chart. This bullish breakout suggests that the previous downside move from the 1.2893 level has likely completed at the 1.2299 low. With this development, the initial support for the…

  • EURUSD Faces Critical Juncture After Testing Trend Line Resistance

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    The EUR/USD currency pair has recently witnessed a significant development, breaking above the 1.0752 resistance level and extending its upside move from the 1.0600 level towards the falling trend line on the 4-hour chart. However, the pair’s attempt to break through this trend line resistance has been met with selling pressure, resulting in a pullback…

  • EURUSD Faces Key Resistance, Downside Risks Linger

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    The EUR/USD currency pair is currently facing resistance at the 1.0752 level. A decisive break above this level could potentially trigger further upside momentum, potentially paving the way for a move towards the falling trend line on the 4-hour chart. However, it’s important to note that as long as the falling trend line resistance holds…

  • USDJPY Breaks Key Support, Bearish Bias Emerges

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    The USD/JPY currency pair has recently experienced a significant bearish development, breaking below the rising trend line on the 4-hour chart and the key support level at 153.58. This breakdown suggests that the upside move from the 146.47 level has likely completed at the 160.21 high. With this bearish signal, further declines in the USD/JPY…

  • USDCAD Breaks Out, Targets Previous High of 1.3845

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    The USD/CAD currency pair has recently witnessed a significant development, breaking above the falling trend line on the 4-hour chart. This upside move from the 1.3631 level has extended as high as 1.3782, indicating that the previous downside move from the 1.3845 high has likely completed at the 1.3631 low. With this bullish breakout, further…

  • USD/CHF Extends Rally, Eyes Further Upside Potential

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    The USD/CHF currency pair has extended its upside move, rallying from the 0.8332 level to as high as 0.9204. This impressive surge has been underpinned by the pair’s ability to sustain its position above a rising trend line on the daily chart. As long as the USD/CHF remains above this critical trend line, the bullish…

  • EURUSD Breaks Below Channel, Downside Risks Emerge

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    The EUR/USD currency pair has broken below the bottom of the rising price channel on the 4-hour chart, suggesting that the upside move from the 1.0600 level has likely completed at the 1.0752 high. This development could potentially pave the way for further declines in the coming days. The next target for the EUR/USD bears…