Uncategorized

GBPUSD remains in uptrend from 1.5490, the fall from 1.6033 is likely consolidation of the uptrend. Range trading between 1.5930 and 1.6033 is possible in a couple of days. Key support is at the upward trend line on 4-hour chart, as long as the trend line support holds, another rise could be expected after consolidation, and next target would be at 1.6100 area. On the downside, a clear break below the trend line support will indicate that the uptrend has completed at 1.6033 already, then the following downward movement could bring price back to 1.5300-1.5400 area.



Daily Forex Forecast

GBPUSD continues its upward movement from 1.5490, and the rise extends to as high as 1.6033. Further rise could be expected after a minor consolidation, and next target would be at 1.6100 area. Key support remains at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.



Forex Signals

USDCHF stays in a trading range between 0.9503 and 0.9634, the price action in the range is treated as consolidation of the downtrend from 0.9809. Another fall could be expected after consolidation, and next target would be at 0.9400 area. Initial support is at 0.9503, a breakdown below this level could signal resumption of the downtrend. Key resistance is at 0.9634, only break above this level will indicate that the downtrend has completed at 0.9503 already, then the following upward movement could bring price to 0.9800 zone.



Daily Forex Analysis

AUDUSD’s downward movement from 1.0543 extends to as low as 1.0167. Resistance is now at the upper border of the price channel on 4-hour chart, as long as the trend line resistance holds, another fall could be expected after a minor consolidation, and next target would be at 1.0100 area. On the upside, a clear break above the channel resistance will indicate that lengthier consolidation of the downtrend is underway, then further rally to 1.0300 area could be seen.



Forex Forecast