USDJPY Daily Analysis – August 22, 2023

by ForexCycle.com | August 22, 2023 7:45 am
The USDJPY currency pair is currently exhibiting a sideways movement within a defined trading range, with resistance at 146.55 and support at 144.92. It is important to note that on the 4-hour chart, there is an ascending...

AUDUSD Daily Analysis – August 22, 2023

by ForexCycle.com | August 22, 2023 7:35 am
The AUDUSD currency pair is currently encountering resistance from a descending trend line on the 4-hour chart. A breakout above this trend line resistance would signify the completion of the downward movement from 0.6894, which terminated at...

GBPUSD Daily Analysis – August 22, 2023

by ForexCycle.com | August 22, 2023 7:24 am
The GBPUSD currency pair is currently confronting a key resistance level at 1.2817. A decisive breakthrough above this level would serve as confirmation that the downward movement from 1.3141 has already concluded at 1.2615. In such a...

EURUSD Daily Analysis – August 22, 2023

by ForexCycle.com | August 22, 2023 7:15 am
The EURUSD currency pair has recently surpassed the descending trend line displayed on the 4-hour chart, indicating a potential reversal in the downward movement that began from 1.1065 and concluded at 1.0844. Given this development, there is...

USDCAD Daily Analysis – August 21, 2023

by ForexCycle.com | August 21, 2023 1:52 am
USDCAD has continued its upside move, reaching as high as 1.3574. With this extension, there is still potential for further rise in the pair, with the next target being around the 1.3600 area. The immediate support level...

USDJPY Daily Analysis – August 21, 2023

by ForexCycle.com | August 21, 2023 1:46 am
USDJPY appears to be staying within a rising price channel on the 4-hour chart, suggesting a potential uptrend from 138.05. As long as the channel support holds, the pullback from 146.55 could be seen as a consolidation...

AUDUSD Daily Analysis – August 21, 2023

by ForexCycle.com | August 21, 2023 1:33 am
AUDUSD is remaining below a falling trend line on the 4-hour chart, suggesting that it is still in a downtrend from 0.6894. The recent decline has extended to as low as 0.6363. As long as the trend...

GBPUSD Daily Analysis – August 21, 2023

by ForexCycle.com | August 21, 2023 1:31 am
GBPUSD has broken above the falling trend line on the 4-hour chart. With this breakout, there is a potential for further upward movement in the pair, with the next target being the 1.2817 resistance level. A decisive...

EURUSD Daily Analysis – August 21, 2023

by ForexCycle.com | August 21, 2023 1:10 am
EURUSD has experienced a continued decline, starting from 1.1065 and reaching a low of 1.0844. The current trend indicates that the price is expected to continue moving downwards as long as it remains below the falling trend...

USDCAD Daily Analysis – August 14, 2023

by ForexCycle.com | August 14, 2023 5:06 am
Currently, the USDCAD currency pair is exhibiting a sideways movement, trading within a range between 1.3371 and 1.3501. This consolidation phase is likely a pause in the uptrend that started from 1.3150. Traders are closely monitoring the...