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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According to the analysis of the USD/CAD and EUR/USD trader profited on a binary options platform.
The EUR/USD pair continued to show strength as the Friday session solid rise above the 1.29 level significantly. We are now approaching the 1.30 level, and we've already proven that the 1.3150 level is the true resistance area that buyers will have to be aware of.
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The USD/CAD pair fell during the session on Friday as the consolidation continues between the parity and 0.99 handles. This market looks relatively benign at the moment, and I do see quite a bit of support just below the 0.99 market that would make me think the sellers will have quite a bit of trouble getting below.
The GBP/JPY pair showed serious strength on Friday as the market almost overcame the shooting star from Thursday. This is a sign that the buyers are still in control, and I do believe that the 130 level will continue to be supportive.
XAU/USD rallied last week on expectations eurozone chiefs will finally reach an agreement on Greek aid. Stronger-than-expected business climate data from Germany was another supporting element for gold prices.
The EUR/USD moved higher last week from 1.2736 to 1.2989, just shy of the Weekly 62 EMA at 1.3005 and a descending trend line at the same level dating back to May of 2011 with a high then of 1.4940.
As the end of the month approaches, see what the recommendations are for some of the major pairs this week and plan your trading accordingly.
Gold continues to pressure the resistance area just above ¥14,000 as the Bank of Japan looks very likely to continue working against the value of its currency. With this being said, while gold should go up against most currencies, the best rate may actually be against the Yen as the currency is being devalued.
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XAU/USD (gold vs. the greenback) closed higher than opening after PMI data from the China and Europe came out better than forecasts. However, the pair remained in range between 1732.40 and 1727.95 as the U.S. markets were closed for the Thanksgiving holiday.
The EUR/USD pair rose slightly during the session on Thursday as the Americans were away on holiday. More importantly though, it found the 1.28 level supportive for the second session a row, and I believe now we are reentering the previous consolidation area that runs all the way up to the 1.3150 level.
The GBP/JPY pair fell slightly during the Thursday session as the pair finally ran out of steam. This pair has shot straight up from the 1.2 5.50 region to present levels and slightly higher in a very short amount of time.
The AUD/USD pair had a fairly quiet session during the Thursday trading hours as the Americans celebrated Thanksgiving. Because of this, the liquidity would have been light during the North American trading session, and as a result we may have had a little bit of a misleading calmness in the marketplace.
According to the analysis of the GBP/USD and EUR/USD trader profited on a binary options platform.
Gold prices settled higher yesterday after IMF’s monthly statistics report showed central banks continue to purchase gold as a way of strengthening and diversifying their assets. Without a doubt, the general level of uncertainty in the global economy is contributing to higher gold prices.