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.
The AUD/USD pair had a strong showing on Friday as the bullishness in the Australian dollar continues. One of the first things that I noticed when looking at this chart is the fact that the 1.06 level is so well-defined on the longer-term time frames.
The GBP/JPY is at a resistance zone that may turn the pair, if not only temporarily...but the real zone to watch is another 370 +/- pips from the current price.
Check out the first quarter for 2013 forecast for one of the most popular Forex trading pairs, the EUR/USD here and see what may be in store for these two currencies.
Check out the Forex forecast for the major pairs for the week of December 16, 2012 analyzed by one of DailyForex.com's expert traders here.
The EUR/USD pair went back and forth during the session on Thursday, only to end up a sickly unchanged. As we get closer towards the top of the recent consolidation area, it is going to be more and more difficult for the buyers to take control.
The USD/CAD pair had another negative session during the Thursday trading hours, but has again seen the 0.98 handle step in and provide support. I currently think this pair is more bearish than bullish, and I believe that the 0.99 giving way as support was a significant move.
The USD/MXN pair is one that many of you probably don't follow, and therefore miss out on an excellent commodity currency to trade. A Mexican peso is highly leveraged to the oil market most of the time, and as a result it takes advantage of the fact that Mexico drills so much crude oil out of the Gulf of Mexico and exports into the United States.
The gold market appears to be stable with the bulls and bears gaining and losing ground almost equally during the Asian session. Right now the battle continues to intensify in the 1700-1694 zone.
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XAU/USD (gold vs. the American dollar) rallied yesterday after the Federal Open Market Committee said the Federal Reserve will buy $45 billion a month of treasury securities starting in January to bolster the economy.
The USD/CAD has been marching south for the last 4 weeks for the most part. The strength is attributed to both a strong Canadian economy and a weakening US Dollar.
The EUR/USD pair had a productive and profitable day as the Euro gained against the Dollar after the Federal Reserve announced that it was going to expand its monetary policies far into the future.
The GBP/JPY pair had an outstanding session on Wednesday as the market skyrocketed towards the 135 handle. However, we could not break that level, and as a result we did selloff a little bit towards the end of the day.
The USD/CAD pair fell during the session as the Federal Reserve announced that it was extending quantitative easing out into the future. The bond buyback program was sent to and at the end of this month, and the fact that the Federal Reserve is willing to extend that should continue to keep interest rates rather low.
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