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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During the session on Thursday, the EUR/USD pair went back and forth in a sign of support as the market could not continue to sell off.
The SGD/CHF pair initially rallied during the course of the day on Thursday, but as you can see turned back around and formed a bit of a shooting star.
Gold prices rose on Thursday for the second day in a row after touching their lowest level in more than five years as after breaching a key resistance at $1079 triggered some short-side profit taking as expected.
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The Norwegian krone is normally thought of as a proxy for the crude oil market. More specifically, I find that it correlates nicely with the Brent market, as Brent North Sea is the grade that most often is found when drilling in the North Sea itself.
The USD/MXN pair initially tried to fall during the day on Wednesday, but the 16.70 level continues to attract buyers as this market is currently grinding sideways.
The EUR/USD pair initially tried to rally during the day on Wednesday, but found far too much in the way of resistance pressure at the 1.07 handle.
During the session on Wednesday, the GBP/CHF pair initially fell, but turned back around to find quite a bit of bullish pressure as the 1.54 level offered more than enough support.
The USD/JPY pair tried to break above the 124 handle during the day on Wednesday, but struggled and ended up turning back around to form a bit of a shooting star.