AUDUSD Daily Analysis – August 31, 2023

by ForexCycle.com | August 31, 2023 7:41 am
AUD/USD has made a significant breakthrough by surpassing the 0.6487 resistance level. This breakout indicates that the previous downward movement from 0.6894 to 0.6363 has likely concluded. As a result, it is likely to see a further...

GBPUSD Daily Analysis – August 31, 2023

by ForexCycle.com | August 31, 2023 7:30 am
GBP/USD has shown a rebound from the 1.2547 level, climbing as high as 1.2745. There is potential for a further rally in the coming days to test the 1.2817 resistance level. A break above this resistance level...

EURUSD Daily Analysis – August 31, 2023

by ForexCycle.com | August 31, 2023 7:16 am
EUR/USD has recently experienced a significant development as it broke above the resistance of a falling price channel on the 4-hour chart. This breakout suggests that the previous downtrend from 1.1065 to 1.0765 has likely completed. As...

USDCAD Daily Analysis – August 29, 2023

by ForexCycle.com | August 29, 2023 3:59 am
USD/CAD is currently showing a strong uptrend on the 4-hour chart, with the pair remaining above a rising trend line. This uptrend dates back to the 1.3092 level. As long as the trend line support holds, it...

USDJPY Daily Analysis – August 29, 2023

by ForexCycle.com | August 29, 2023 3:49 am
USD/JPY has made a breakout above the resistance level at 146.55. This breakout indicates a resumption of the upward movement from 138.05. As a result, it is plausible to expect further upside potential in the coming days,...

AUDUSD Daily Analysis – August 29, 2023

by ForexCycle.com | August 29, 2023 3:22 am
AUDUSD is currently experiencing a sideways consolidation within a trading range bounded by 0.6363 and 0.6487. As long as the resistance level at 0.6487 remains intact, the lateral price movement can be interpreted as a consolidation phase...

GBPUSD Daily Analysis – August 29, 2023

by ForexCycle.com | August 29, 2023 3:10 am
GBPUSD continues to exhibit a downtrend originating from 1.3141. The pair remains bearish, and the downward move is anticipated to persist as long as the resistance level at 1.2817 remains intact. The next target for GBPUSD lies...

EURUSD Daily Analysis – August 29, 2023

by ForexCycle.com | August 29, 2023 2:15 am
EURUSD continues to adhere to a descending price channel on its 4-hour chart, indicating the pair’s persistent engagement in the downtrend that originated from 1.1065. The prevailing situation revolves around the channel resistance, which plays a pivotal...

USDCAD Daily Analysis – August 28, 2023

by ForexCycle.com | August 28, 2023 12:50 am
USDCAD has achieved a notable breakthrough, surpassing the significant resistance at 1.3603 and extending its upward trajectory from 1.3092 to reach as high as 1.3639. As long as the key support level at 1.3495 remains intact, we...

USDJPY Daily Analysis – August 28, 2023

by ForexCycle.com | August 28, 2023 12:41 am
USDJPY has made a significant breakthrough by surmounting the 146.55 resistance, signifying a resumption of the upward movement that began at 138.05. In the days ahead, we can anticipate further upward momentum, with the next significant target...