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 AUD/USD pair fell during the session on Monday in order to continue the weak action that we started to see last week. This pair is a great barometer of all things Asian economically, and this market suddenly is saying things aren’t as chipper as they once were.
According to the analysis of the AUD/USD and EUR/USD trader profited on a binary options platform.
Things have been up and down for the pairs throughout the summer. See what this week will bring with this Forex forecast of the majors.
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The EUR/USD pair fell during the Friday session as the markets softened before the weekend. The action was bearish but did in fact find a bit of support at the 1.25 level.
The GBP/NZD pair attempted to break through the 1.95 level on the Friday, but was repelled by the sellers in order to form a shooting star.
The AUD/USD pair has been in a nice uptrend since the beginning of June. However, we saw a breakdown on Friday below the uptrend line that has been propelling this pair much higher.
GBP/USD has been very bullish of the last several sessions, and during the Thursday trading day even managed to approach the 1.59 level. The pair had been recently consolidating in an ascending triangle, and as such I have been waiting for what seems like forever to buy this pair.
AUD/USD fell during the Thursday session as the poor Chinese economic numbers that have been coming out recently wait upon the commodity currencies. There is serious concern that the slowdown in China is accelerating, and this will put a serious dent into the commodity markets which Australia is so reliant upon for its export market.
EUR/USD had another bullish session on Thursday as the short covering rally continues. The market has been rather impressive over the last several sessions, mainly based upon expectations of some type of Euro related bailout of Spanish banks.
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The USD/CAD pair had an interesting day of the originally gain in value, only to turn around once the Federal Reserve minutes were released. It appears that several of the members on the board of the Federal Reserve are more than willing to ease monetary policy in the United States economy doesn't pick up.
The USD/JPY pair fell rather significantly during the session on Wednesday, facilitated by the Federal Reserve released that suggested many of the members are willing to step in and increase monetary easing if the US economy doesn't pickup.
The EUR/USD pair made a strong showing during the Wednesday session as the Federal Reserve released the minutes from its July meeting. In the release was the impression that several of the members are more than willing to step in and ease monetary policy if the economy in the United States does not pick up soon. Needless to say, this was Dollar negative and the Euro benefited as a result.
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The EUR/USD pair surge during the session on Tuesday to smash into the 1.25 area. This is the area that I have been suggesting for some time is the beginning of serious resistance, and should repel me Euro going forward. It is now that we will find out whether or not this actually holds true.