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.
Most Recent
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.
The GBP/USD pair continued to bounce on Wednesday from the recent lows just above the 1.58 handle. Adding more credence to the support level is the fact that the 200 day simple moving average is just below, and the Wednesday candle formed a hammer.
The EUR/USD pair fell during most of the session on Wednesday, but did get a supportive bounce at the end in order to form a nice-looking hammer. This hammer was predicated upon a bounce from the 200 simple moving average on the daily chart, as well as the 1.27 to 1.28 support and resistance zone.
Top Forex Brokers
The NZD/USD pair fell during the session on Wednesday, but got a bit of a bounce from the 0.81 handle. You have to keep in mind that this pair is extremely risk sensitive, and as a result headlines can often have an inordinate effect on it.
According to the analysis of the GBP/USD and EUR/USD trader profited on a binary options platform.
XAU/USD closed lower than opening after a Hamas official said that both sides had agreed to a ceasefire, easing fears of a wider conflict stemming from Israel and Gaza. The American dollar was also supported by better-than-expected U.S. housing data.
The EUR/USD pair has recently picked up a little bit on the bullish side as the 1.27 level offered enough support to keep the sellers a day. With this being said, it looks like we are attempting to break above the 1.28 handle with some significance, and as such, I believe that a reentry into the former consolidation zone could be about to happen.
The GBP/USD pair had a strong session during the Tuesday trading hours as we managed to break above the shooting star highs from Monday. This is a very bullish sign, and as such I believe that the British pound is about to start gaining against the US dollar again.
The GBP/JPY pair rose during the session on Tuesday as we smash through the 130 handle. This is one of the favorite pairs for so-called "carry traders" to be involved with as the swap is fairly strong, and the movement in this pair tends to be rather exaggerated.
Bonuses & Promotions
FXE is an exchange traded fund that mimics the price of the Euro. Get this signal from an expert trader now!
According to the analysis of the EUR/JPY and EUR/USD trader profited on a binary options platform.
Check out this AUD/CAD signal from the DailyForex.com trading room and find your profitable position now.
See which direction the USD/SGD pair is trending with this free Forex signal from DailyForex.com
Here is another trading signal, this time for the EUR/CHF pair. See where the EUR/CHF is headed here.
Check out this Forex signal using the Ichimoku technical analysis method. What is the recommendation for this pair? Find out here.