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 EUR/JPY pair gapped at the open on Monday, but as you can see spent part of the day pulling back in order to fill that very same gap. The market closed at roughly 142, and as a result it looks like we are pressing up against that area for some type of breakout further to the upside.
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Check out the GBP/USD signal here.
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The NFP was released on Friday, showing that the US added more jobs than expected in November; rushing the EUR to a 5 week high against the USD. The pair reached a high of 1.3721 and closed at 1.3705.
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The XAU/USD pair (Gold vs. the American dollar) fell for the week but managed to close just above the 1225 support level on Friday, even after the economic data out of the United States beat forecasts.
The WTI Crude Oil markets did almost nothing on Friday, as the nonfarm payroll numbers came out a bit better than anticipated. This shows that the Federal Reserve may taper sooner than anticipated, and because of this the Dollar should appreciate over time.
The EUR/USD pair initially fell during the session on Friday, but once the dust settled from the nonfarm payroll report, traders started to selloff the US dollar in reaction as although the announcement was stronger than anticipated, it wasn't enough to get people to think that the Federal Reserve is going to taper anytime soon.
The USD/CAD pair went back and forth during the session on Friday, in reaction to the nonfarm payroll number as it typically does. By the end of the day we had essentially got nowhere, and as a result I believe that we will continue to consolidate just above the 1.06 handle for the short-term.
The AUD/USD pair initially fell during the session on Friday, but as you can see the 0.90 level offer quite a bit of support, and we formed a nice looking hammer as a result of the bounce. That bounce shows just how important the 0.90 level is to the marketplace, and because of this, I believe that the market is ready to do a little bit of a "dead cat bounce."
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