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/JPY pair rose during the session on Monday, as the 101.25 level has offered support yet again.
The NZD/USD pair fell initially during the session on Monday, dipping down below the 0.8650 level.
The GBP/USD pair fell initially during the session on Monday, but found enough support below the 1.67 handle in order to turn things back around and form a hammer.
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The EUR/USD pair fell during the session on Monday after initially gapping lower.
The XAU/USD pair (Gold vs. the American dollar) scored a gain of 0.64% on increasing demand for protection against volatility in the global equities and turmoil in Ukraine.
In currency markets, the driving factor continues to be the changing policy stance that we have seen in the US Federal Reserve. Broad economic data in most regions of the world (with China and the Eurozone being notable exceptions) has been positive and stable.
Although the XAU/USD pair settled lower on the last trading day of the week, the weekly candle was still positive. Gold prices rose 1.1% over the course of the week as investors continued to shift money from equities to gold.
The WTI Crude Oil markets did very little during the session on Friday by the time we close, but that doesn’t mean that there wasn’t any action.
The EUR/USD pair went back and forth during the session on Friday, essentially settling nothing by the time the market closed.
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The GBP/USD pair fell during the session on Friday as you can see, but remains above the 1.67 level, an area that I believe will begin significant support based upon the previous consolidation area that we had been involved in during February.
The USD/JPY pair tried to rally during the session on Friday, but lost about half of the gains by the time we closed in order to form a bit of a shooting star.
Learn where some of the major pairs are headed this week with this Forex forecast here.
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.