EURUSD is moving inside a rising channel on its 1-hour forex chart, with price just finding resistance at the top of the range. Stochastic is moving lower, indicating that sellers are in control of price action for now. MACD is also heading down, which confirms the bearish momentum.
The GBPUSD pair initially tried to rally during the session on Tuesday, but struggled in order to hang onto any type of gains, so therefore we ended up falling.
AUDUSD broke below the upward trend line on 4-hour chart, indicating that the uptrend from 0.8540 had completed
EURUSD stays above the rising trend line on 4-hour chart, and remains in uptrend from 1.2358, the fall from 1.2577 would possibly be consolidation of the uptrend.
EURUSD’s upward movement extended to as high as 1.2577. Further rise is still possible, and next target would be at 1.2600 – 1.2650 area.
GBPUSD remains in downtrend from 1.6182, the rise from 1.5592 is likely consolidation of the downtrend.
AUDUSD stays above the upward trend line on 4-hour chart, and remains in uptrend from 0.8540, the fall from 0.8795 is likely consolidation of the uptrend.
USDJPY’s upward movement from 105.32 extended to as high as 117.05.
GBPUSD’s downward movement from 1.6182 extended to as low as 1.5592.
EURUSD broke above 1.2508 resistance, indicating that the downtrend from 1.2867 had completed at 1.2358 already.
