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.
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Risk appetite has contributed to a bullish correction in USD / JPY to reach the 107.22 resistance level, which was hit a month ago, and started trading this week stabilizing around 106.82, pending new catalysts to complete the correction.
Positive developments in the future of Brexit during last week's trading contributed strongly to the strong bullish move for the GBP/USD.
The EUR/USD will remain in a limited range until the ECB's monetary policy decisions are actually announced.
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NZDUSD: NZD advancing but by less than the AUD
The Euro tried to rally during the trading session on Friday but has rolled over after the initial surge post nonfarm payroll.
The NASDAQ 100 rallied again during the trading session on Friday in somewhat of a subdued manner, but at this point it’s obvious that we have broken out of a major consolidation phase and that should continue to attract people to the market.
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The Australian dollar has rallied quite significantly during the trading session again on Friday, slicing through the 50 day EMA.
The S&P 500 rallied again during the day on Friday as we continue to see strength in the market after the jobs number has been released.
The US dollar has gone back and forth during the trading session on Friday against the Japanese yen as the jobs number came out slightly lower than anticipated.
The British pound has pulled back a bit during the trading session on Friday, sitting on the 50 day EMA.
USDCAD: Bearish head & shoulders on weekly chart
Natural gas markets initially pulled back during the trading session on Friday but found enough support at the $2.40 level to turn around and rally towards the $2.50 level.