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.
Most Recent
The EUR/CAD pair broke down during the session on Tuesday, as the Euro was sold off against just about everything. The chart attached to this article is still down, and that’s done on purpose.
The EUR/JPY pair initially tried to rally during the day on Tuesday, but as you can see the 137.50 level offered a bit too much in the way resistance and turn the market back around.
The GBP/USD pair had a back-and-forth session on Tuesday, ultimately settling on something along the lines of a hammer. This hammer sits at roughly the 1.7050 level, which I see is the beginning of support extending all the way down to the 1.6950 region, with of course the 1.70 level as the focal point.
Top Forex Brokers
Gold prices declined for the second time in three days as concerns surrounding Ukraine and Russia eased and stocks extend their gains.
Bitcoin continues to trade in a rangebound manner with no immediate signs of a breakout as yet. It seems that the bulls and the bears are in no mood to flex their muscles to get it their way and are rather just waiting for the other party to tire out.
The WTI Crude Oil markets rose during the course of the session on Monday, testing the $104.60 level. We closed at the very top of the range, which tells me that this market is still very bullish, and I believe that this market will make a serious attempt to break above the $105 level.
The EUR/USD pair initially tried to rally during the session on Monday, but as you can see the market turned back around at the 1.3550 level, and as a result ended up forming a shooting star. The shooting star of course suggests that we are going to have quite a bit of trouble going higher, and as a result I a expect to see this market be very choppy.
The USD/JPY pair initially fell during the course of the day on Monday, but as you can see we bounced and formed a hammer. The hammer suggests that the market is going to go higher, and with the recent consolidation area, that doesn’t really surprise me much.
The EUR/GBP pair tried to rally during the course of the day on Monday, but as you can see fell backwards again forming a shooting star. The shooting star of course suggests that the market is going to continue to fall, going along with the long-term downtrend.
Bonuses & Promotions
The CAD/JPY pair fell during the session initially on Monday, but as you can see the 94 level just below has been to the market previously, thereby sending the buyers into the market and having the daily candle print a hammer, which of course is a very bullish sign.
Gold prices rose slightly during yesterday's session and closed the day at $1312.24 an ounce. Investors continue to watch geopolitical events but some people don't expect contagion to major markets.
According to the analysis of the EUR/USD and USD/JPY, trader profited on a binary options trading platform. See how here
After consolidating in a narrow range of approximately 22 points, Bitcoin looks set to end the week on a flat note. Get the analysis for July 21, 2014 here.
The WTI Crude Oil market initially gapped higher on Friday, but as you can see ended up losing momentum during the day. That being the case, we broke down below the $103.00 level, and then bounced slightly.
The silver markets fell during the session on Friday, but remain above the supportive $20.60 level that has kept the market somewhat afloat after having a fairly impulsive move a few weeks ago.