GBPUSD Daily Analysis – August 1, 2023

by ForexCycle.com | August 1, 2023 6:54 am
GBPUSD is currently experiencing a downtrend that initiated from 1.3141, and the recent bounce from 1.2762 is likely a consolidation phase within this downtrend. As long as the resistance of the trend line remains intact, it is...

EURUSD Daily Analysis – August 1, 2023

by ForexCycle.com | August 1, 2023 6:43 am
The EURUSD pair remains entrenched in a downtrend, stemming from 1.1275. The recent bounce from 1.0943 is likely a period of consolidation within the overall downtrend. As long as the price stays below the falling trend line...

USDCAD Daily Analysis – July 31, 2023

by ForexCycle.com | July 31, 2023 2:44 am
USDCAD has successfully broken above the resistance level at 1.3242. This breakout suggests that a further rally is likely to occur in the coming days, with the next target set at 1.3300, followed by the previous high...

USDJPY Daily Analysis – July 31, 2023

by ForexCycle.com | July 31, 2023 2:35 am
USDJPY has recently broken above the falling trend line on the 4-hour chart, indicating that the previous downside movement from 141.94, which reached as low as 138.05, has concluded. With this breakout, a further rally could be...

AUDUSD Daily Analysis – July 31, 2023

by ForexCycle.com | July 31, 2023 2:18 am
The AUDUSD pair has experienced a significant downside move, extending from 0.6894 to as low as 0.6622. As long as the price remains below the falling trend line on the 4-hour chart, there is a strong indication...

GBPUSD Daily Analysis – July 31, 2023

by ForexCycle.com | July 31, 2023 1:54 am
The GBPUSD pair is currently facing resistance from a falling trend line on the 4-hour chart, reaffirming its position within a downtrend that began at 1.3141. As long as the trend line resistance remains unbroken, there is...

EURUSD Daily Analysis – July 31, 2023

by ForexCycle.com | July 31, 2023 1:41 am
The EURUSD pair is currently remaining below a falling trend line on the 4-hour chart. This suggests that the pair is still entrenched in a downtrend that originated from 1.1275. As long as the trend line resistance...

USDCAD Daily Analysis – July 28, 2023

by ForexCycle.com | July 28, 2023 10:41 am
USDCAD is currently testing the 1.3242 resistance level once again. If the price manages to break through this level, it could rise towards the next resistance level at 1.3300, followed by 1.3386. On the other hand, there...

USDJPY Daily Analysis – July 28, 2023

by ForexCycle.com | July 28, 2023 10:36 am
USDJPY has recently extended its downward trend, falling from 141.94 to as low as 138.05. Further decline is still possible in the coming days, with the next target being the 137.23 support level. On the other hand,...

AUDUSD Daily Analysis – July 28, 2023

by ForexCycle.com | July 28, 2023 10:30 am
AUDUSD has recently extended its downward trend, falling from 0.6894 to as low as 0.6622. As long as the price stays below the falling trend line on the 4-hour chart, the downside move could be expected to...