USDCAD Weekly Analysis – July 20, 2019

USDCAD stays below a falling trend line on the daily chart and remains in the downtrend from 1.3564. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 1.2900 area, only break above the trend line resistance could signal completion of the downtrend.

USDCAD daily chart

USDJPY Weekly Analysis – July 20, 2019

USDJPY moved sideways in a trading range between 106.77 and 108.99. As long as 108.99 resistance holds, the price action in the range could be treated as consolidation for the downtrend from 112.40, further decline to 106.00 area is still possible after the consolidation. On the upside, a break of 108.99 resistance would confirm that the downside movement had completed at 106.77 already, then the pair would find next resistance at around 110.00, followed by 111.60.

USDJPY daily chart

GBPUSD Weekly Analysis – July 20, 2019

GBPUSD extended its downside movement from 1.3381 to as low as 1.2381, breaking below 1.2396 support. Further decline could be expected in a couple of weeks and next target would be at 1.2200 area. Resistance is at the top of the falling price channel on the daily chart, only break above the channel resistance could signal completion of the downtrend.

GBPUSD daily chart

AUDUSD Weekly Analysis – July 20, 2019

AUDUSD’s upside movement from 0.6831 extended to as high as 0.7081. As long as the price is above the rising trend line on the daily chart, the upside movement could be expected to continue and next target would be at 0.7200 area, only break below the trend line support could signal completion of the uptrend.

AUDUSD daily chart

AUDUSD Daily Analysis – July 19, 2019

AUDUSD broke above 0.7047 resistance and extended its upside movement from 0.6910 to as high as 0.7081. Further rise could be expected after a minor consolidation and next target would be at 0.7150 area. Support is located at the rising trend line on the 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.

AUDUSD 4-hour chart

EURUSD Daily Analysis – July 19, 2019

EURUSD failed to break above 1.1285 resistance and stayed in a trading range between 1.1193 and 1.1285. As long as 1.1285 resistance holds, the price action in the range could be treated as consolidation for the downtrend from 1.1412, a breakdown below 1.1193 could take the price to 1.1150 area. On the upside, a breakout of 1.1285 resistance would confirm that the downside movement had completed at 1.1193 already, then the following upside move could bring the price back to 1.1350 zone.

EURUSD 4-hour chart