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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The USD/CAD pair fell hard during the session on Thursday, breaking below the 1.0850 level, and more importantly making a fresh, new low.
Gold prices fell 1.4% on Wednesday, extending their losses to a second straight session, on technical selling and signs of stabilization in the risk environment.
The WTI Crude Oil markets had a strong showing on Wednesday, breaking above the top of the shooting star from the Tuesday session. This of course is a very positive sign, and as a result I believe that this market is going to try to reach the $102 level in the short term.
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The EUR/USD pair fell a bit during the session on Wednesday, as the market is starting to run into significant resistance.
The USD/JPY pair fell during a quite a bit of the session on Wednesday, but as you can see on the chart attached to this article, we found support below at the 101.50 level yet again.
The USD/CAD pair did very little during the session on Wednesday, as we continue to hover just above major support. When you look at this chart, you can see that the 108.80 level has been supportive a couple of times in the past, and as a result we are testing the very bottom of the larger consolidation area.
Check out the Forex signal for the USD/JPY pair here.
Check out the Forex signal for the GBP/USD pair here.
Check out the Forex signal for the EUR/USD pair here.
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The XAU/USD pair posted first loss in three days but managed to close above the 1307 level. The pair traded as low as $1304.22 an ounce but prospect of a civil war in Ukraine pushed down stocks on major world markets and drove up buying of safe-haven gold.
The WTI Crude Oil markets tried to rally during most of the session on Tuesday, but as you can see found far too much in the way of resistance of the $100.50 level, an area that has been a bit of an enigma to buyers lately.
The EUR/USD pair rose during the session on Tuesday, as the German economic numbers came in a bit better than anticipated. The Services PMI reading was stronger than anticipated, and as a result the Euro jumped.
The GBP/USD pair rose during the session on Tuesday, slamming into the 1.70 level. This candle was bullish also, and as a result the market is certainly positive overall.
The USD/CAD pair fell pretty hard during the session on Tuesday, testing the very lower levels of the consolidation area that we have been in for some time.