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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It appears that the XAU/USD pair found some support during the Asian session today after four consecutive days of losses. Although the pair has been suffering from strengthening U.S. dollar since October, the trading action is getting tight recently.
The EUR/USD pair fell during the session again on Monday, but as it did on Friday, it bounced back above the 1.30 level. The sellers simply couldn’t overcome the support level, and as a result it formed a hammer.
The EUR/JPY pair did almost nothing on Monday, but in the big scheme of things – I think that was telling us something. After all, we simply continue to grind sideways in this market, and the support from the 120 level has held true for several days.
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The GBP/USD pair had a strong session on Monday, something that is a bit of an anomaly these days. This market has been dropping like a stone for some time now, and the fall to the 1.50 level has been stunning.
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The Euro is very likely to continue the week under pressure much like the week before, as the lingering political situation in Italy weighs heavily on it. Get this special Euro piece exclusive for DailyForex.com readers here.
The start of a new month may mean new trading opportunities. Learn about the major Forex pairs here and see where they may be headed for the week ahead.
Begin your week with a trading signal for the USD/JPY pair from DailyForex.com
The WTI Crude markets fell during the session on Friday, but bounced in the end to form a hammer. I have been talking for some time about the potential support at the $90.00 level, and it appears that it has arrived during the session.
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For the third week in a row, the XAU/USD pair settled lower than opening. The pair rose Monday and Tuesday on expectations that Federal Reserve chief Ben Bernanke will defend the central bank's quantitative easing program.
The EUR/USD pair had another negative session on Friday, and even managed to break down below the 1.3000 handle. However, you can see that this market did provide some support in the general vicinity and we popped back over the 1.3000 handle by the time the close came.
The GBP/USD pair has been in a massive free fall for the last several weeks. It seems like every time the Pound tries the gain some type of putting, the market slaps it back down. With that being said, there has to be a point in time where the support finally comes back into the marketplace.
The EUR/JPY pair rose during the Friday session as the 120 level continues offer support. This market has been extraordinarily bullish over the last several months as you know, and as a result it does not surprise me that the next major handle from the fall acted as support.
Gold (XAU/USD) Formed a weekly Inverted Hanging Man formation at the close of last week, suggesting that prices could be heading back up.
The WTI Crude markets fell during the session on Thursday, as a general "risk off" vibe hit the commodities markets. This chart looks like one the ones to grind lower, and I did mention previously that I thought the $92.00 level would be somewhat supportive.