EURUSD Daily Analysis – June 6, 2023

by ForexCycle.com | June 6, 2023 7:32 am
The EURUSD currency pair has been entrenched in a persistent downtrend from its peak at 1.1095. Currently, the pair remains within a falling price channel on the 4-hour chart, suggesting that the bearish momentum is still intact....

USDCAD Daily Analysis – June 5, 2023

by ForexCycle.com | June 5, 2023 2:10 am
The USDCAD currency pair has been in a persistent downtrend since reaching a high of 1.3654. While there has been a recent bounce from the low of 1.3406, it is likely to be a temporary consolidation phase...

USDJPY Daily Analysis – June 5, 2023

by ForexCycle.com | June 5, 2023 2:06 am
The USDJPY currency pair has experienced a significant pullback, reaching as low as 138.42. However, the subsequent bounce suggests that the pair remains in the overall uptrend that started from the 133.49 level. This bounce indicates a...

AUDUSD Daily Analysis – June 5, 2023

by ForexCycle.com | June 5, 2023 2:00 am
The AUDUSD currency pair recently experienced a significant development as it broke above a falling trend line on the 4-hour chart. This breakout suggests a shift in the pair’s momentum, indicating a potential uptrend from the low...

GBPUSD Daily Analysis – June 5, 2023

by ForexCycle.com | June 5, 2023 1:53 am
The GBPUSD currency pair experienced a failed attempt to break above the resistance level at 1.2545, resulting in a pullback to 1.2425. The subsequent break below the support level at 1.2430 suggests that the pair remains within...

EURUSD Daily Analysis – June 5, 2023

by ForexCycle.com | June 5, 2023 1:45 am
The EURUSD currency pair experienced a pullback from its recent high of 1.0778 and subsequently reached a low of 1.0690. This price action suggests that the pair remains within a downtrend that originated from 1.1095. Traders are...

USDCAD Daily Analysis – June 2, 2023

by ForexCycle.com | June 2, 2023 11:47 am
The USDCAD currency pair has experienced a continued decline, with the fall from 1.3654 extending to as low as 1.3406. This downward momentum suggests further downside potential in the near term, with the next target likely to...

USDJPY Daily Analysis – June 2, 2023

by ForexCycle.com | June 2, 2023 11:43 am
The USDJPY currency pair has experienced a significant break below the 138.60 support level, indicating a potential completion of the recent upside move from 133.49 to 140.91. This break suggests a shift in market sentiment and sets...

AUDUSD Daily Analysis – June 2, 2023

by ForexCycle.com | June 2, 2023 11:40 am
The AUDUSD currency pair has recently experienced a significant breakthrough, as it broke above the falling trend line on the 4-hour chart. This breakout suggests that the previous downside move from 0.6817 to 0.6457 has potentially come...

GBPUSD Daily Analysis – June 2, 2023

by ForexCycle.com | June 2, 2023 11:35 am
The GBPUSD currency pair has recently experienced a significant breakthrough, as it broke above the key resistance level at 1.2483. This breakout indicates that the previous downside move from 1.2679 to 1.2307 has potentially come to an...