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 WTI market fell during the session on Friday, testing the $97 level finding support at that exact area. We have recently broken out over the last 48 hours, so it makes sense that we would pull back to try and find more buyers.
The EUR/USD pair fell again during the session on Friday, but this time managed to break down below the 1.35 handle.
The USD/CAD pair had a pretty wild session on Friday as we went back and forth in a very wide range. However, what I am paying attention to at the moment is the 1.10 level, as I believe it is essentially a floor in this market.
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Begin the new month of February with this weekly Forex forecast of some of the major pairs here.
Check out the Forex signal for the EUR/USD pair here.
Check out the Forex signal for the GBP/USD pair here.
Check out the signal for the USD/JPY pair here.
The XAU/USD pair fell sharply and give back all of the gains made in the previous session as the American dollar strengthened across the board.
The WTI Crude Oil markets rose during the session on Thursday, breaking above the $98 level. With that, we have finally broken out above the level that I thought would be the biggest problem in the near term.
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The EUR/USD pair fell rather hard during the session on Thursday, testing the 1.3550 level.
The USD/CAD pair fell slightly during the session on Thursday, showing signs of weakness.
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This pair seems caught in a long-term consolidation and enjoys only limited price movement, the current signs are that this is likely to continue during February, but a lot will depend upon how this current week closes.
This pair is established in a long-term uptrend which is beginning to show some signs of weakening. Despite this, it seems likely to continue upwards during February, especially if January closes above 1.6450.
This cross has been established in a strong long-term uptrend since the summer of 2012, and has been rising strongly in its recent leg to reach a five-year high, but it is beginning to show signs of weakening or at least slowing.