Forex Review

EURUSD my analysis through my partnership with InstaForex here.

USDJPY

Remains in a bullish up trend making higher highs and higher lows. As long as price is above 112.50-112.40 trend will remain bullish. Price is also breaking above a long-term trend line resistance.

GBPUSD

The pound remains in a bullish trend despite the sharp reversal from 1.32 to 1.3070. Price remains inside the bullish channel. A clear break below 1.30 will change trend to bearish.

AUDUSD

AUDUSD remains in a bearish trend has recently reached the resistance trend line and got rejected at 0.73. As long as price is below the recent highs at 0.7304 I remain bearish.

USDCAD

Price is breaking out and below the upward sloping long-term channel

As long as price is below 1.3120 I consider any bounce as a selling opportunity. 1.29-1.2880 is key support that if we see it broken we should expect to see selling pressures increase.

 

Thank you for taking the time to catch up on my thinking

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