Forex Analysis

  • USDCAD Downtrend Intact, Further Losses Potentially Ahead

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    The USDCAD currency pair remains trading below a falling trendline visible on the 4-hour chart timeframe. This technical setup suggests that the broader downtrend from the 1.3845 high is still very much in force at the moment. As long as USDCAD continues to respect that falling trendline resistance area, the path of least resistance appears…

  • GBPUSD Downtrend Remains Intact, Watching Key Resistances

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    The GBPUSD currency pair is currently trading below a falling trendline visible on the 4-hour chart timeframe. This technical setup suggests that the broader downtrend from the 1.2709 high remains firmly in place for now. As long as GBPUSD continues to respect that falling trendline resistance, the path of least resistance appears to be for…

  • USDCHF Uptrend Remains Intact, Watching for Next Breakout

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    The USDCHF currency pair continues to trade above a rising trendline visible on the daily chart timeframe. This technical development suggests that the broader uptrend from the December 2023 low at 0.8332 remains firmly intact for now. As long as USDCHF can continue finding support from that rising trendline, the recent pullback from the 0.9151…

  • EURUSD Consolidates, Watching Key Breakout Levels

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    The EURUSD currency pair has been trading within a relatively tight range over the past several sessions, oscillating between support at 1.0600 and resistance around 1.0689. This sideways price action is likely serving as a consolidation phase within the broader downtrend from the 1.0981 high set earlier this year. While the consolidative, range-bound environment has…

  • USDJPY Breaks Trendline, Range-Bound Period Ahead?

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    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 trendline breakdown suggests that a lengthier period of consolidation could potentially be underway within the broader uptrend that has been tracking from the 146.47 low printed back in March. In the…

  • USDJPY Tests Trendline Support, Watching for Next Move

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    The USDJPY currency pair is currently facing an important technical test, with price action hovering near the rising trendline support visible on the 4-hour chart timeframe. As long as this trendline support area manages to hold firm, the pullback from recent highs could be viewed as nothing more than a consolidation within the broader uptrend…

  • EURUSD Breaks Resistance, Further Upside Potential Emerges

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    The EURUSD currency pair has made a bullish technical break by surging above the 1.0670 resistance level. This move suggests that the short-term downtrend from the 1.0884 high may have already found a bottom around the 1.0600 low. With the breakout above 1.0670, the current rebound off the 1.0600 low could now be seen as…

  • AUDUSD Selloff Intensifies, 0.6350 Level in Focus

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    The AUDUSD currency pair has seen a sharp acceleration of its bearish momentum, with the downside move from the 0.6644 high extending to a new low of 0.6385 so far. With the sellers firmly in control, the path of least resistance appears to be for further AUDUSD declines in the coming days. The next key…

  • USDJPY Extends Rally, Bulls Aim For 156.00 Target

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    The USDJPY currency pair has continued to exhibit strong bullish momentum, with the recent upside move from the 150.80 low extending all the way up to 154.44 so far. As long as USDJPY remains trading above the rising trendline visible on the 4-hour chart timeframe, the path of least resistance appears to be for further…

  • Euro Extends Slide Against US Dollar

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    The EURUSD currency pair has continued its downward trajectory, falling from 1.0981 to a low of 1.0622 in recent trading sessions. Technical analysis suggests the bearish momentum may not be over yet. Further Declines Likely After a brief period of consolidation, further declines toward the 1.0550 area appear possible for the EURUSD pair. Sellers remain…

  • USDCHF Breaks Out of Range, Uptrend Resumes

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    After a period of sideways consolidation within the trading range between 0.8997 and 0.9094, USDCHF has made a decisive bullish move by breaking above the 0.9094 resistance level. The pair has extended its upside from the 0.8729 low, rallying as high as 0.9146 so far. This breakout suggests that the overall uptrend in USDCHF has…

  • USDJPY Breaks Resistance, Uptrend Resumes

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    The USDJPY currency pair has seen a strong bounce higher, rallying all the way up to 153.23 so far. This move took out the 151.96 resistance level, suggesting that the broader uptrend from the 146.47 low on March 8th has resumed after a brief pause. With momentum clearly favoring the bullish side once again, further…