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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In a battle of safe havens, the CHF/JPY pair makes for an interesting trade at times. It very rarely moves rapidly, but is more of a “slow grind” as it tends to trend for very long periods of time.
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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EUR/USD's rebound from 1.3476 extended higher last week and broke the near term falling channel. Initial bias remains on the upside this week for 1.3739 resistance. Break will confirm that whole pull back from 1.3892 has completed at 1.3476 already.
The XAU/USD pair (Gold vs. the American dollar) had a positive week as weakness in the U.S. dollar helped prices boost their momentum.
The WTI Crude Oil markets fell during most of the session on Friday, but as you can see bounced hard enough to form a hammer. Over the last five sessions, we have seen four hammers and one shooting star.
The EUR USD pair rose during the session on Friday, but as you can see stalled at the 1.37 handle. This doesn’t surprise me too much, this is been a resistive barrier for the last two months, but I look at it as the beginning of a “thick zone”, as I see resistance all the way to the 1.38 handle.
The USD/CAD pair fell during most of the session on Friday, but as you can see found enough support just at the 1.09 level to bounce and form a nice-looking hammer. This hammer is shaped perfectly, and sits just below the vital 1.10 level.
The GBP/USD pair rose during the session on Friday, finally breaking out well above the 1.6650 level. Because of this, I feel that this market is ready to go to its next natural target, the 1.70 level.
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Check out the weekly Forex forecast for some of the pairs here.
Check out the Forex signal for the GBP/USD pair here.
Check out the Forex signal for the EUR/USD pair here.
Since early 2012, volatility in this pair has declined dramatically, making it harder to trade profitably. This was quite a change as during 2010 and 2011, EUR/USD was one of the most volatile pairs.
The XAU/USD pair continued to climb on Thursday after the bulls managed to break through the 1293 resistance level.
The WTI Crude Oil markets fell during the bulk of the session on Thursday, but found enough support below the $100 level to turn around and form a hammer.