The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
The Euro rallied a bit during the trading session on Friday to reach toward the 1.14 level but gave back quite a bit of the gains to show signs of hesitation. All things being equal, this is a market that has been very bullish, but quite frankly I do think that the euro is getting a little bit tired, and the US economy seems to be stronger than the market may have thought, as the jobs number was a little bit cooler than anticipated but it is still seen quite a bit of hiring in the United States.
During the trading session on Friday, we have seen the Australian dollar rally again, but we are starting to see a little bit of hesitation. It looks as if we are trying to do everything we can to break out, but keep in mind that the market is struggling a bit to hang on to the gains outside of the previous consolidation area. The 200 Day EMA sits right in the middle of this consolidation area, so that of course is something that has been a major factor in this market over the last several sessions.
The U.S. dollar fell rather hard during the early part of the Friday session to reach below the 84 rupee level but has seen a massive bounce since then. And it looks like it's going to settle on forming a hammer for the day. This of course would be a significant turnaround considering just how ugly things have been over the last couple of sessions
The strong Canadian Dollar has recently pushed the price to multi-month lows, but support is firming up above the big quarter-number at $1.3750.
The US dollar has been somewhat positive in the early hours of Friday against the Mexican peso. And then basically just sat there.
Bitcoin has rallied a bit during the early hours on Friday and just kept going higher. That being said though, it has been a very quiet session, but it's been positive and that's a good sign
The GBP/USD pair pulled back for four straight days as the recent bullish momentum faded. After soaring to 1.3431 in April, the pair dropped to 1.3270 as it moved into the handle section of the cup and handle pattern. The pair will be in the spotlight this week as the Bank of England (BoE) and the Federal Reserve deliver their interest rates decisions.
he euro initially did try to rally a bit during the course of the trading session on Friday, but it looks as if the area near the 165 yen level could continue to be a bit of a barrier
The EUR/USD exchange rate retreated to the psychological point at 1.1300, its lowest level since April 16 and 2.45% below its highest level this year. It retreated after a series of mixed US economic data and as traders focus to the upcoming Federal Reserve interest rate decision.
The US dollar initially fell pretty significantly during the trading session on Friday, only to turn around and show signs of life. The hammer that is forming for the trading session, of course, is a very bullish sign, and I think we continue to try to build some type of bottoming pattern here in the dollar against the Swiss franc
The BTC/USD pair pulled back slightly on Monday as the recent rally took a breather ahead of the Federal Reserve interest rate decision. Bitcoin price was trading at $95,000, few points below last week’s high of $97,703. This price is about 28% above the lowest level this year.
The AUD/USD exchange rate surged briefly to its highest level since December 4 as investors reflected on the latest Australian election and the strong US nonfarm payrolls (NFP) data. It rose to a high of 0.6468 on Monday, up from the year-to-date low of 0.5913.
Markets have continued to see a recovery in stocks and other risky assets, with the US Dollar also gaining, and the commodity currencies and US stock markets looking especially strong.
Weekly market wrap: oil dips, gold slips, NASDAQ rallies, and major FX pairs test key levels amid shifting sentiment.
The US dollar rallied against the Swiss franc on Thursday, pushing toward key resistance at 0.84 as traders brace for NFP and test safe-haven sentiment.
