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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USD/CAD fell during the session on Monday again, pushing towards the parity level as the bearish momentum continues to impress.
GBP/USD fell during the session on Monday, but managed to bounce towards the end of the trading day in order to form a hammer. This is of no small significance considering the fact that the 1.57 level held as support.
EUR/USD fell during the session on Monday, after the ridiculous urge that we saw over the previous three trading sessions.
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See where the EUR/USD is trending with this Forex signal using the Ichimoku method.
Last week was interesting for some of the major pairs, especially the EUR/USD. See what may be ahead for the pairs and make your trading plans accordingly!
The USD/JPY has been, like the EUR/USD, rather disconnected from the '6 Cousins' when viewed from a market correlation point of view.
NZD/USD is a pair that I have been talking about quite a bit lately. The bounce has been wicked, and I must admit that I was caught off guard completely by this sudden burst higher. However, now that it has happened, the analysis becomes a bit clearer at this point.
The GBP/NZD pair has been flirting with a serious demand level for some time now. On Friday, we saw the pair finally break through the area, as the 1.95 handle gave way.
EUR/USD rose quite a bit for the third day in a row on Friday, only to retreat in the end. There is open speculation that the ECB is about to get aggressive in the markets to help stabilize the European debt concerns, and this gave a bit of a relief rally for the Euro as a result.
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The AUD/USD is Bullish again during Asian trading and is rapidly approaching both yesterday's high and the 90 day high for the pair at 1.0472.
USD/CAD fell hard during the Thursday session to coincide with the "risk on" rally that we saw throughout the financial markets. The pair of course will follow the oil markets, so it is worth noting that oil had a relatively benign rally for the session.
The price action over the last couple days has been fairly interesting, and it should be noted that what originally got me interested in this pair was the bearish flag that you see on the chart.
EUR/USD rose during the session on Thursday after the head of the European Central Bank announced that he was willing to do "whatever it takes" to save the Euro. For some out there, this seems to have been a major revelation.
The USD/CAD pair is another pair that is trading within a channel, and the pair has reacted to the top of that channel by printing a bearish engulfing candle off of Resistance at 1.0225.
NZD/USD rose during the session during the Wednesday session as the "risk on" rally came back into the market. Looking back over the previous 40 hours, we have seen a breakdown out of consolidation by the Kiwi dollar, and now we have ran back of to retest that area.