Free Forex Market Analysis

USDCHF’s upward movement from 0.9421 extends to as high as 0.9678. Support is now located at the upward trend line on 4-hour chart, as long as the trend line support holds, uptrend could be expected to continue, and further rise towards 0.9769 previous high is still possible. On the downside, a clear break below the trend line will indicate that a cycle top has been formed, and consolidation of the uptrend is underway, then pullback to 0.9500 area could be seen.



Daily Forex Analysis

USDJPY stays in a upward price channel on 4-hour chart. Support is at the lower line of the channel, as long as the channel support holds, the uptrend from 77.66 could be expected to resume, and another rise towards 83.00 is still possible. However, a clear break below the channel support will indicate that the rise from 77.66 has completed at 80.62 already, then the following downward movement could bring price back to 76.00-77.00 area.



Daily Forex Forecast

USDJPY’s fall from 80.62 extends to as low as 79.23. Further decline towards the lower line of the price channel on 4-hour chart could be seen, a clear break below the channel support will indicate that the upward movement from 77.66 has completed at 80.62 already, then the following downward movement could bring price to 76.00-77.00 area. On the other side, as long as the channel support holds, the fall from 80.62 could be treated as consolidation of the uptrend from 77.66, and one more rise towards 83.00 is still possible.



Forex Signals

USDCHF breaks above 0.9600 resistance, and reaches as high as 0.9628, suggesting that the downtrend from 0.9769 has completed at 0.9421 already. The pair is now in uptrend from 0.9421, further rise could be expected, and next target would be at 0.9700 area. Support is at 0.9540, only break below this level will indicate that consolidation of the uptrend is underway, then pullback to 0.9500 level could be seen.



Daily Forex Forecast