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 WTI Crude Oil markets fell during the session on Monday, as the $98.00 level offered far too much resistance. That being the case, it feels as if the market is going to pullback from here, which of course would be healthy considering the impulsive move that we've had over the last couple of sessions.
The EUR/USD pair drift a little bit lower at the open on Monday, but as you can see bounced higher and challenge the 1.3750 level. Now that we've done this, I think that this market still has continuing the bullish attitude to it, and as a result I am only buying the Euro at this point.
The GBP/USD pair shot straight up during the session on Monday, testing the 1.6450 area yet again. This is an area that has caused problems for the buyers several times now, but I do think that eventually we will breakout and above it.
The EUR/JPY pair gapped at the open on Monday, but as you can see spent part of the day pulling back in order to fill that very same gap. The market closed at roughly 142, and as a result it looks like we are pressing up against that area for some type of breakout further to the upside.
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Check out the Forex signal for the USD/JPY pair here.
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The NFP was released on Friday, showing that the US added more jobs than expected in November; rushing the EUR to a 5 week high against the USD. The pair reached a high of 1.3721 and closed at 1.3705.
The XAU/USD pair (Gold vs. the American dollar) fell for the week but managed to close just above the 1225 support level on Friday, even after the economic data out of the United States beat forecasts.
The WTI Crude Oil markets did almost nothing on Friday, as the nonfarm payroll numbers came out a bit better than anticipated. This shows that the Federal Reserve may taper sooner than anticipated, and because of this the Dollar should appreciate over time.
The EUR/USD pair initially fell during the session on Friday, but once the dust settled from the nonfarm payroll report, traders started to selloff the US dollar in reaction as although the announcement was stronger than anticipated, it wasn't enough to get people to think that the Federal Reserve is going to taper anytime soon.
