EURUSD Daily Analysis – May 23, 2023

by ForexCycle.com | May 23, 2023 8:02 am
The EURUSD currency pair finds itself at a critical juncture as it confronts the resistance of a falling trend line on the 4-hour chart. Traders are closely observing this price level as it has the potential to...

USDCAD Daily Analysis – May 22, 2023

by ForexCycle.com | May 22, 2023 10:49 am
The USDCAD currency pair has continued its sideways movement, consolidating within a trading range between 1.3403 and 1.3567. Traders should closely monitor key support and resistance levels as the pair remains in this range-bound phase. In the...

USDJPY Daily Analysis – May 22, 2023

by ForexCycle.com | May 22, 2023 10:45 am
The USDJPY currency pair has recently broken below its rising trend line on the 4-hour chart, suggesting that a period of consolidation for the uptrend from 133.49 is currently underway. Traders should exercise caution and closely monitor...

AUDUSD Daily Analysis – May 22, 2023

by ForexCycle.com | May 22, 2023 10:37 am
The AUDUSD currency pair remains entrenched in a persistent downtrend, with the recent bounce from 0.6604 being viewed as a period of consolidation within this overall bearish trend. Traders should exercise caution as the pair navigates key...

GBPUSD Daily Analysis – May 22, 2023

by ForexCycle.com | May 22, 2023 10:34 am
The GBPUSD currency pair remains locked in a persistent downtrend, with the recent bounce from 1.2391 being viewed as a period of consolidation within this overall bearish trend. Traders should exercise caution as the pair grapples with...

EURUSD Daily Analysis – May 22, 2023

by ForexCycle.com | May 22, 2023 10:29 am
The EURUSD currency pair continues to face challenges as it remains below a prominent falling trend line on the 4-hour chart, reaffirming its downtrend from 1.1091. The price action following the bounce from 1.0759 can be interpreted...

USDCAD Analysis – May 19, 2023

by ForexCycle.com | May 19, 2023 8:37 am
The USDCAD pair has been trading within a relatively range, moving sideways between the support level at 1.3403 and the resistance level at 1.3567. This consolidation phase indicates a temporary pause in the market as buyers and...

USDJPY Analysis – May 19, 2023

by ForexCycle.com | May 19, 2023 8:33 am
The USDJPY pair has exhibited a strong upside move from its low point at 133.49, extending its rally to reach as high as 138.74. Traders are closely monitoring the pair as it continues to demonstrate bullish momentum,...

AUDUSD Analysis – May 19, 2023

by ForexCycle.com | May 19, 2023 8:28 am
The AUDUSD pair has experienced an extended downside move, following a decline from its peak at 0.6817. Currently, the pair is testing the previous low support at 0.6573, indicating a potential bearish continuation. Traders and investors are...

GBPUSD Analysis – May 19, 2023

by ForexCycle.com | May 19, 2023 8:17 am
The GBPUSD pair has experienced a continued downside move, with the price extending as low as 1.2391 from its recent peak at 1.2679. Traders and investors are closely observing the market as the pair remains under pressure,...