GBPUSD Daily Analysis – January 30, 2017
GBPUSD stays in the upward price channel on 4-hour chart, and remains in uptrend from 1.1986.
GBPUSD stays in the upward price channel on 4-hour chart, and remains in uptrend from 1.1986.
EURUSD stays above the upward trend line on 4-hour chart, and remains in uptrend from 1.0340, and the fall from 1.0774
The USDCAD pair did very little during the day on Tuesday as we continue to hug the previous uptrend line.
AUDUSD is slowly trending higher, moving inside a rising wedge pattern visible on its 1-hour and 4-hour charts. Price is testing the resistance and could be due for a move back to support at the .7475 level.
The GBPUSD pair rallied on Monday, as the US dollar softened a bit overall.The 1.27 level above could be resistive yet again, but I think the real massive “ceiling” in this market is closer to the 1.2850 level above.
The AUDUSD pair rallied on Monday, testing the 0.75 level above as resistance.
The EURUSD pair fell slightly but then turned back around to form a hammer.
USDCAD seems to be tired from its climb, as a double top pattern formed on its 1-hour time frame. Price is still testing the neckline at the 1.3400 major psychological level before conrfirming this reversal signal.
The Australian dollar rally during the day on Monday, as we continue to see a bit of a bounce later in the session.
The EURUSD pair fell significantly during the day on Monday as we got word that the FBI was not going to indict Hillary Clinton due to emails.