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/USD pair shot straight through the ceiling during the session on Thursday as the US dollar was pummeled in general.
The USD/CAD pair fell during the session on Thursday, slicing through the 1.03 level. However, we did bounce a little bit so one has to wonder whether or not there is support down here that's willing to put up a fight.
The EUR/JPY pair fell during the beginning part of the session on Thursday, but as you can see got a bit of support just above the 133 handle in order to bounce and form a hammer. This is of course a bullish sign, and as a result I think that this market is going to continue higher.
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The GBP/USD pair skyrocketed during the session on Thursday, breaking well above the highs from the Wednesday range, which I had previously suggested would be a nice buying opportunity.
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Last week was a bullish reversal bar, closing just above on the lower trend line of the triangle that was broken down to the downside last month. This week is bullish so far and has penetrated back into the triangle.
The gold market appears to be stable with the bulls and bears gaining and losing ground almost equally during yesterday's session. Finally U.S. Senate leaders came up with a deal to raise the debt ceiling and end the government shutdown.
The WTI Crude Oil markets rose during the session on Wednesday, as the $101 level has offered enough support yet again. This area is looking more and more interesting to me, and I believe that short-term traders will more than likely take advantage of this area as its strength has been proven more than once.
Monday printed a bearish pin par, marked at (1). There was then a bearish candle the next day which bounced up off the support at 1.3485, closing about halfway along its range.
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The EUR/USD pair went back and forth during the session on Wednesday, and in the end essentially decided nothing. That may be because of the U.S. Senate coming to grips with the idea of extending the debt ceiling, and therefore reopening the US government.
The AUD/USD pair went back and forth during the session on Wednesday, but ultimately finished the day unchanged. The most important thing about the candlestick though was that it showed that the 0.95 level did in fact offer support.
The EUR/GBP pair fell during the bulk of the session on Wednesday, but as you can see the market bounced hard enough to form a pretty impressive looking hammer.
The CAD/JPY pair initially fell during the session on Wednesday, but as you can see really took off to the upside later in the day. Because of that, I feel that this market is ready to go higher, especially when you look at the Yen in general right now.
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The price has risen quite steadily, and has not fallen below 0.9388. We can say that 0.9408 held as support and that this did correctly indicate a more bullish bias, as the price rose strongly after the level had been tested several times.