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.
USD/JPY is a pair that I have been watching for some time now. With the Bank of Japan working in the shadows, there has been somewhat of a natural bid in this market. Granted, the pair has many should drift lower but we have seen a bit of support as the 78 handle.
On Friday, we again saw a relatively flat Euro based upon the fears in that region. The region continues to be the epicenter of all things Forex related, and the news flow has been moving this pair back and forth rather violently from time to time.
The Australian Dollar is looking weaker against the American Greenback again as the pair kissed the 61.8% retracement level at 1.0207 last week and printed a strong Bearish candle the next day.
See where the USD/CAD pair went after last week's signal and where it is headed. This pair is trending down. Get the signal here.
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Yesterday the GBP/USD reached the 50% retracement level of the Bearish move that began on April 30th at 1.63007 and ended after establishing a higher 6 month low at 1.52675.
Before you end your trades as the weekend approaches, see what our expert trader recommends for the AUD/CAD pair with this free Forex signal.
The cable had a rough go at it on Thursday as the risk appetite of traders around the world soured. The concerns of global slowdown seemed to be validated as the Chinese, Americans, and Germans all posted bad economic numbers during the session.
EUR/JPY has been in a massively bearish trend for some time now. However, over the last month or so, we have seen a bit of a rally. The real question when something like this happens is whether or not it is a rally, or merely a pullback.
The EUR/USD pair got absolutely whacked during the Thursday session as the risk appetite fell off of a cliff during the trading session. The pair has been a very consistent one – simply sell when everyone starts buying again.
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The Kiwi (NZD/USD) continues is march higher after Statistics New Zealand released its quarterly GDP number showing growth of 1.1%, much better than the forecast 0.5%.
The USD/JPY pair has been one that has been a bit of a battlefield between two central banks that are racing towards the bottom when it comes to the value of their own currencies. The Bank of Japan has been actively working against the Yen, and the most recent move was an expansion of the asset purchase program by a whopping ten trillion Yen.
NZD/USD is one of my favorite pairs to trade. It is a great expression of global risk appetite, and as a result it is quite often a “binary” set up when it comes to trading it. Simply put, if everyone is comfortable with taking a bit of risk, this pair rises over time.
