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USDCAD’s upward movement from 0.9632 extends to as high as 0.9884. Support is now located at the lower line of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to continue, and next target would be at the upper line of the channel. On the downside, a clear break below the channel support will suggest that the upward movement has completed, then further decline towards 0.9632 previous low could be seen.



Daily Forex forecast

USDCHF breaks below the upward trend line on 4-hour chart, suggesting that a cycle top has been formed at 0.9437, and the upward movement from 0.9239 has completed. Further decline to test 0.9239 previous low support could be expected, a breakdown below this level will signal resumption of the longer term downtrend from 0.9971 (Jul 24 high). Resistance is at 0.9437 only break above this level could trigger another rise to 0.9500 area.

usdchf

Forex Signals

USDCAD moves sideways in a range between 0.9780 and 0.9859. Support is at 0.9780, as long as this level holds, the price action in the range is treated as consolidation of the uptrend from 0.9632, one more rise to 0.9900 area to complete the upward move could be expected. On the downside, a breakdown below 0.9780 support will indicate that the rise from 0.9632 has completed at 0.9859 already, then the following downward movement could bring price back towards 0.9632 previous low.



Daily Forex Forecast

USDCHF failed to break below 0.9325 key support and continues its upward movement from 0.9239. 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 the target would be at 0.9500 area. On the downside, a clear break below the trend line support will indicate that the uptrend from 0.9239 has completed, then the following downward movement could bring price back towards 0.9000.



Daily Forex Analysis