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 Australian dollar had a pretty wild day during the Thursday session. This makes sense, as a lot of people are trying to figure out which direction the worldwide economy is going. With so many conflicting signals, although a majority of them are negative, it makes sense of the Australian dollar will suffer.
EUR/USD has been a bit wild lately, as traders try to figure out what's going to come out of the European Union meetings. If history is any guide, it will be much in the markets will be disappointed in the politicians yet again.
According to the analysis of the AUD/USD and EUR/USD trader profited on a binary options platform.
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The Australian Dollar continues to gain against the Greenback during Asian trading with a high at time of writing of 1.01244. The Bullish Flag formation that we spoke of previously appears to be valid as price has now pushed above the Weekly Pivot at 1.0088 but is hitting resistance at some previous lows from May 6 & 7.
GBP/CHF had a slightly negative session on Wednesday as the markets fell to retest the 1.50 level for support. This pair is one that I don't cover very often, but is without a doubt one that can produce fireworks from time to time.
AUD/USD had another bullish session on Wednesday as traders take advantage of the bounce found at the parity level. The Australian dollar of course is one of the most favored risk assets for currency traders, and as such we may be seeing a little bit of pre-European summit buying.
EUR/USD fell just slightly during the Wednesday session as the market prepares for the European Union’s summit meeting over the next 48 hours. Because of this, is very possible this pair may do very little over the next two days.
Using the Ichimoku method, see where this pair is headed with free Forex signal.
Before the day is done, be sure to check out this free Forex Signal for the British Pound and US Dollar.
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According to the analysis of the AUD/USD and GBP/USD trader profited on a binary options platform.
Catch up on your favorite currency pairs with this mid week Forex summary. Use this as a guide for your trading the rest of the week!
Like most of the pairs tied to the US Dollar, the USD/SGD daily chart has printed a nice bullish flag formation, and has actually broken out of the descending channel with the last 2 daily candles that have printed.
Follow up on Monday's EUR/USD Signal with this update on where this pair is headed. The Euro is still trending up! Get the details here.
This pair could be a bit of a tough one to trade in the near term. After all, the Australian economy is heavily influenced by the mining sector, and this is heavily influenced by exporting to places like China. In fact, one of the best ways to think of the Aussie is to trade it as a proxy for the Yuan.
Cable managed to bounce higher on the Tuesday session as the Pound had a fairly decent day all around the Forex markets. The GBP gained against the Dollar, the Franc, and the Euro in unison, and it appears that the Pound might be a possible “safe haven” of sorts at the moment.