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 XAU/USD pair printed another bearish candle yesterday as improving U.S. economic data dulled the precious metal’s safe-haven appeal.
The EUR/USD pair fell during the session on Thursday, testing the 1.37 region. That area offered support, but it does look like the markets going to try to break through and below that specific area.
The GBP/CHF pair rose during the session on Thursday, slamming into the 1.4750 level again. This is an area that was once massively supportive, so that being the case I believe that we will see a significant amount resistance in this general vicinity.
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The NZD/USD pair rose during the session on Thursday, breaking above the 0.8650 level. That being the case, I believe that this market continues to go much higher, ultimately claiming the 0.90 handle, a long-term target that I have been watching ever since we broke above the 0.85 handle.
The USD/CAD pair fell hard during the session on Thursday, as we start heading towards the 1.10 level. This level is massively supportive in my opinion, and I believe it extends all the way down to the 1.09 handle.
The USD/JPY pair rose during the session on Thursday, recapturing most of the losses from the Wednesday session. With that being the case, we feel that the market could continue to go higher, but recognize the fact that we have essentially been in some form of consolidation for quite some time now.
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The XAU/USD pair closed lower than opening on Wednesday as the American dollar gained some traction after the durable goods orders and flash services PMI figures came in slightly better than expected.
The WTI Crude Oil markets rose during the session on Wednesday, but most importantly closed above the $100 level. This is an area that has caused quite a bit of trouble for the WTI Crude Oil markets recently, and closing above it is in fact as far as I can tell a positive sign.
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The EUR/USD pair fell during the session on Wednesday, but remains well within the consolidation area that we have seen over the last week or so.
The GBP/USD pair initially fell during the session on Wednesday, but as you can see the 1.65 level did offer support. This support was strong enough to send the market higher, and form a pretty positive looking candle.
The USD/JPY pair fell during the session on Wednesday, testing the 102 level. However, you can see that we did get a little bit of a bounce towards the end of the session although it wasn’t enough to form a hammer or anything.
Check out the Forex signal for the GBP/USD pair here.
Check out the Forex signal for the EUR/USD pair here.
The XAU/USD pair (Gold vs. the American dollar) ended yesterday's session with a small gain as G7 nations threatened Russia with tougher economic sanctions. Lately falling prices put the precious metal back in the spotlights.