Forex Analysis
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USDCAD Faces Critical Resistance, Potential Bearish Continuation
The USD/CAD currency pair is currently testing the resistance of a falling trend line on the 4-hour chart. This trend line has been acting as a significant barrier, and as long as it holds firm, the recent rise from the 1.3631 level could be viewed as a consolidation phase within the broader downtrend that began…
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AUDUSD Continues to Climb Higher, Eyes 0.6630 Resistance Level
The Australian dollar has extended its upside move against the US dollar, with the AUD/USD currency pair rallying from the 0.6361 level to as high as 0.6586. This bullish momentum shows no signs of abating, and further gains could be in store in the coming days. The next target for the AUD/USD pair lies around…
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GBPUSD Extends Rally, Faces Crucial Resistance Ahead
The British pound has strengthened against the US dollar, with the GBP/USD currency pair extending its upside move from the 1.2299 level to as high as 1.2569. This rally could potentially continue, with the next target being the falling trend line on the 4-hour chart. If the GBP/USD manages to break through this trend line…
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Euro Remains Bullish Against US Dollar, But Faces Key Resistance
The EUR/USD currency pair continues to trade within a rising price channel on the 4-hour chart, suggesting the short-term uptrend from the 1.0600 level remains intact. As long as the price respects the boundaries of this channel, the upside momentum could persist, with the next target area being 1.0800. However, the pair faces a significant…
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USDJPY Breaks Trendline, Range-Bound Period Ahead?
The USDJPY currency pair has taken a bearish technical turn by breaking below the rising trendline support visible on the 4-hour chart timeframe. This breakdown suggests that the recent upside move from the 150.80 low may have already completed at the 160.21 high printed this week. In the wake of this trendline violation, USDJPY may…
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USDJPY Uptrend Intact, Watching for Extension to 159.00 Target
The USDJPY currency pair continues to exhibit bullish momentum, with the pair trading comfortably above a rising trendline visible on the 4-hour chart timeframe. This technical posture suggests that the broader uptrend from the 150.80 low remains firmly intact at the moment. Riding the wave of this uptrend, USDJPY has managed to rally as high…
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GBPUSD Rally Faces Major Trendline Resistance Ahead
The GBPUSD currency pair has seen its bullish momentum accelerate over recent sessions, with the upside move from the 1.2299 low extending all the way up to 1.2540 so far. With the path of least resistance still appearing to favor the topside at this stage, further GBPUSD gains could potentially be on the horizon in…
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EURUSD Extends Rally, But Broader Downtrend Risks Remain
The EURUSD currency pair has seen its bullish momentum accelerate, with the recent upside move from the 1.0600 low extending all the way up to 1.0752 so far. This advance has pushed the pair into a newly-formed rising price channel visible on the 4-hour chart timeframe. As long as EURUSD remains contained within this bullish…
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USDJPY Breaks Resistance, Eyes 157.00 Target
The USDJPY currency pair has made a bullish technical breakthrough by surging above the 154.78 resistance level. This move has extended the recent upside advance from the 150.80 low, with the pair now reaching as high as 155.51. As long as USDJPY remains trading above the rising trendline visible on the 4-hour chart timeframe, the…
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AUDUSD Extends Gains, Further Upside Potential Ahead
The AUDUSD currency pair has seen its bullish momentum accelerate, with the recent upside move from the 0.6361 low extending all the way up to 0.6529 so far. With the path of least resistance still appearing to favor the bulls at this stage, further AUDUSD gains could potentially be on the horizon over the coming…
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GBPUSD Breaks Trendline Resistance, Correction Higher Beckons
The GBPUSD currency pair has taken a bullish technical turn by breaking above the falling trendline resistance visible on the 4-hour chart timeframe. This development suggests that a corrective rebound within the broader downtrend from the 1.2892 peak could now be underway. With the pair clearing this key resistance hurdle, further GBPUSD gains are likely…
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EURUSD Breaks Resistance, Correction Higher Underway
The EURUSD currency pair has made a bullish technical break by surging above the 1.0689 resistance level. With the pair reaching as high as 1.0713 so far, this move suggests that a corrective rebound within the broader downtrend from the 1.0981 peak is now underway. With the breakout confirming the corrective upside bias in the…