AUDUSD Daily Analysis – May 22, 2017
AUDUSD’s rise from 0.7328 extended to as high as 0.7469. The pair is facing the resistance of the descending trend line on 4-hour chart. As long as the trend line resistance holds, the rise could be treated...
Tag: Trend Line
EURUSD Daily Analysis – May 22, 2017
After consolidation, EURUSD continued its bullish movement from 1.0839 and the rise extended to as high as 1.1211. Near term support is at the ascending trend line on 4-hour chart. As long as the pair is above...
How to Use Trend Lines to Make Successful Forex Transactions Every Time
Trend lines are a useful visual tool for Forex traders. They provide a pictorial representation of which direction a currency pair is moving in, so that a trader can determine whether it is a good time to...
AUDUSD Weekly Analysis – May 20, 2017
AUDUSD is facing the resistance of the descending trend line on daily chart. A clear break above the trend line will indicate that the bearish movement from 0.7749 had completed at 0.7328 already, then further rally to...
GBPUSD Weekly Analysis – May 20, 2017
GBPUSD stays above the ascending trend line on daily chart, suggesting that the pair remains in uptrend from 1.2109. As long as the trend line support holds, the upward movement could be expected to continue, and next...
EURUSD Weekly Analysis – May 20, 2017
EURUSD continued its bullish movement from 1.0569 and the rise extended to as high as 1.1211. Support is at the ascending trend line on daily chart. As long as the pair is above the trend line, the...
USDCNH Broke Below Channel Support
USDCNH broke below the bottom trend line from 6.8680 to 6.8837 of the price channel on the 4-hour chart, indicating that the short term uptrend from 6.8680 had completed at 6.9171 already. The subsequent downward movement extended...
AUDUSD Daily Analysis – May 19, 2017
Under pressure by the resistance of the descending trend line on 4-hour chart, AUDUSD pulled back from 0.7466. Another rise to test the trend line resistance is still possible after consolidation. As long as the pair is...
EURUSD Broke Above Channel Resistance
EURUSD broke above the upper line of the price channel on the daily chart, which provided resistance around 1.1060, indicating that a new bullish movement had started. Further rises could be expected over the next several days...
AUDUSD Daily Analysis – May 18, 2017
AUDUSD remains in the short term uptrend from 0.7328, the fall from 0.7445 is likely consolidation of the uptrend. Further rise to test the resistance of the descending trend line on 4-hour chart is possible. Support is...