USD/CAD, EUR/USD, AUD/USD Technical Analysis for Next Week & More

Posted 24 January, 2020

USD/CAD rallied strongly on Wednesday, but was followed by a test of a trend-line from 2017 that turned into a mini failure. The reversal yesterday could spell some short-term weakness at the least. A close above 13171 will negate the reversal.

It was a "visible" market that rallied, and rallies changed, meaning that the current stage is in danger. The other day the movement will remain, but until we see signs that the movement in one direction will continue in this way, we will have to continue to trade in price action, no matter what.

 

USD/CAD DAILY CHART (REVERSING OFF TREND-LINE)

USD/CAD daily chart, reversing off trend-line

USD/CAD Chart by TradingView

 

EUR / USD ultimately cut off the support he needed in order to gain some momentum. The October minimum was not decisively achieved, and although some price support is around 11,000 to see a more serious decline, it suggests a test is in order of the lows from October created under 10900.

 

EUR/USD DAILY CHART (BROKE TREND-LINE SUPPORT)

EUR/USD daily chart, broke trend-line support

EUR/USD Chart by TradingView

 

AUD / USD is currently on the verge of a fairly substantial trend. The sloping line (lower parallel), rising above the October low, is under siege and, due to a lack of interest in it, suggests that it could soon break. However, it is important to wait until he really stops before running too aggressively and with a bearish bias. This is supported as long as it is not. It can also be considered as a significant risk / benefit for prospective people.

 

AUD/USD DAILY CHART (TESTING IMPORTANT TREND SUPPORT)

AUD/USD daily chart, testing important trend support

AUD/USD Chart by TradingView

Previous forecast

04 February, 2020 15:53

← USD/CAD Price Analysis: Set-up remains in favour of bullish traders

  • USD/CAD bulls struggle to make it through 1.3300 mark.
  • Dip-buying should help limit any meaningful downfall.

 USD/CAD Price Analysis: Set-up remains in favour of bullish traders

Next forecast

15 January, 2020 13:13

XAU/USD: Gold Slides 5% as Volatility Wanes – Will Support Hold? →

GOLD FORECAST: EBBING VOLATILITY PRESSURES XAU/USD TOWARD TECHNICAL SUPPORT AFTER PIERCING $1,600

XAU/USD: Gold Slides 5% as Volatility Wanes – Will Support Hold?
Write a comment
 
Prove you’re not a bot + 17 = 34