Recent content by forexcycle

The GBPUSD pair failed in it attempt to break below the bullish support trend line on the 4-hour chart and rebounded strongly from 1.3319, suggesting that the pair remains in the uptrend from 1.3039. As long as the price is above the trend line, the price action from 1.3549 could be treated as...

EURUSD broke below 1.1809 support, suggesting that the upside movement from 1.1554 had completed at 1.1961 already. Further decline would likely be seen in the coming days and next target would be at 1.1712. A breakdown below this level could take price to next support level at 1.1554, followed...

The GBPUSD pair remains in uptrend from 1.3039, the fall from 1.3549 could be treated as consolidation of the uptrend. As long as the price is above the trend line, the uptrend could be expected to continue and next target would be at 1.3657 (Sep 20 high). Near term resistance is at 1.3549, a...

EURUSD’s fall from 1.1961 extended to as low as 1.1827. However, as long as the price is above the bullish trend line on the 4-hour chart, the fall could be treated as consolidation of the uptrend from 1.1554, and another rise towards 1.2092 (Sep 8 high) previous high is still possible after the...

EURUSD extended its upside movement from 1.1554 to as high as 1.1944, breaking above 1.1879 key resistance, confirming that the downside movement from 1.2092 (Sep 8 high) had completed at 1.1554 already. Near term support is at the bullish trend line on the 4-hour chart. As long as the price is...

GBPUSD’s upside movement from 1.3039 extended to as high as 1.3279. Further rise to test 1.3337 key resistance is still possible in the coming days. As long as this level holds, the sideways movement in a range between 1.3027 and 1.3337 could be treated as consolidation of the downtrend from...

GBPUSD is testing 1.3229 resistance, a breakout of this level could take price to the key resistance at 1.3337. As long as this level holds, the sideways movement in the trading range between 1.3027 and 1.3337 could be treated as consolidation of the downtrend from 1.3657 (Sep 20 high), and...

EURUSD failed in its attempt to breakout of 1.1879 resistance and pulled back from 1.1860. However, as long as the price is above 1.1740 support, the fall would possibly be consolidation of the uptrend from 1.1554, and another rise to test 1.1879 resistance is still possible after the...

USDCAD broke below 1.2700 support and extended its downside movement from 1.2916 to as low as 1.2666, facing the support of the bullish trend line on the daily chart. Near term resistance is at the falling trend line on the 4-hour chart. As long as the price is below this trend line, the...

GBPUSD continued its sideways movement in a trading range between 1.3027 and 1.3337. Another rise towards 1.3337 resistance would likely be seen in the coming days. As long as this level holds, the sideways movement could be treated as consolidation of the downtrend from 1.3657, and further...

EURUSD is in consolidation of the downtrend from 1.2092 (Sep 8 high). Range trading between 1.1574 and 1.1725 would likely be seen in the coming days. As long as the support-turned-resistance level of 1.1725 holds, the downside movement could be expected to resume after the consolidation and a...

USDCAD failed to breakout of 1.2916 resistance and pulled back to break below a bullish trend line on the 4-hour chart, suggesting that lengthier consolidation for the uptrend from 1.2433 is underway. Range trading between 1.2780 and 1.2916 would likely be seen in a couple of days. As long as...

EURUSD is in consolidation for the downtrend from 1.1879. Range trading between 1.1574 and 1.1685 would likely be seen in a couple of days. Near term resistance is at 1.1685, as long as this level holds, the downtrend could be expected to resume and a breakdown below 1.1574 support could trigger...

USDJPY continued its upside movement from 111.65 and the rise extended to as high as 114.45. As long as the price is above the rising trend line on the 4-hour chart, the uptrend could be expected to resume, and further rise towards 115.50 is still possible. Near term resistance is at 114.45...

GBPUSD is now facing the bullish support trend line from 1.2109 to 1.2774 on the daily chart. A clear break below the trend line support could take price to a key support level at 1.2774, below this level will confirm that the upside movement from 1.1946 (Oct 2016 low) had completed at 1.3657...