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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Gold prices (XAU/USD) fell yesterday as the bears managed to defend the 1255 resistance level. The XAU/USD pair traded as low as $1235.58 an ounce after the support at 1245 was broken.
The WTI Crude Oil markets rose during the session on Tuesday, breaking above the $95 handle again. The fact that we broke above $95 is of course somewhat impressive, but I need to see this market break above $96 in order to be thoroughly convinced that the buyers have taken control.
The EUR/USD pair fell initially during the session on Tuesday, but as you can see found enough support just above the 1.35 handle in order to bounce and form a hammer.
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Check out the signal for the GBP/USD pair here.
Check out the signal for the EUR/USD pair here.
Check out the weekly signal for the USD/CAD pair here.
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The XAU/USD pair tried to climb towards the 1268 resistance level yesterday but ran out of steam after weaker than expected gross domestic product and industrial production data out of China boosted worries about economic growth.
The WTI Crude Oil markets fell during the bulk of the session on Monday, that I would not put too much into the candle itself even though it bounce back to form a nice-looking hammer.
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The EUR/USD pair fell initially during the session on Monday, but as you can see found the 1.35 level supportive enough to cause the market to bounce back and clear the 1.3550 handle. The fact that we did that is significant in my opinion simply because I saw the whole area as one big “support zone.”
The USD/JPY pair has been one of my favorites for some time now. One look at this chart, and it’s obvious why. It’s one of the few markets that has been such a nice steady move higher, and as a side note I should say that it’s basically the JPY selling off that has been driving this market.
The GBP/USD pair did very little during the session on Monday, basically grinding back and forth to finish the day relatively unchanged. However, when you look at the totality of the marketplace you can certainly see that there is an underlying bid to this market.
The USD/CAD pair had a negative session on Monday, but you must remember that was Martin Luther King Jr. holiday in the United States, and this pair predominantly trades most of its volume during the North American session.
Check out the signal for the GBP/USD pair here.
Check out the signal for the EUR/USD pair here.