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 Euro to the US Dollar (EUR/USD) exchange rate recorded its first weekly gain in five weeks after disappointing US jobs figures reinforced bets on a rate cut by the Federal Reserve.
For two days in a row, the GBP/USD currency pair has been trying to rebound higher to compensate for the strong losses it suffered last week, which extended to the 1.2843 support level, its lowest in three months.
The Aussie dollar initially broke above the 1.09 level during the early hours on Friday but has turned around quite significantly.
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The New Zealand dollar has been all over the place during the trading session on Friday, as we continue to see a lot of noise in general.
The Australian dollar initially pulled back just a bit during the trading session on Friday, only to turn around and show signs of strength again against the Swiss franc.
The USD/MXN sold off this morning as trading began, but the currency pair remains rather comfortably above the 20.00000, this as a sea of volatility gets ready to unleash.
The USD/ZAR moved towards rather durable support in early trading this morning when the 17.50000 level was penetrated slightly lower temporarily, but then produced a slight reversal higher.
The British pound has been fairly strong during the trading session on Friday as the jobs number in the United States came out as adding just 12,000 jobs last month.
The GBP/USD pair continued its strong downtrend ahead of the upcoming US election and Federal Reserve and Bank of England (BoE) decisions. It retreated to a low of 1.2845, its lowest swing since August 15.
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Gold initially rallied during the trading session on Friday as the jobs numbers came out at adding just 12,000 for the previous month in the United States.
The AUD/USD exchange rate continued its downward trend as investors focused on the upcoming Federal Reserve and Reserve Bank of Australia (RBA) decision and the US general election set on Tuesday.
The EUR/USD pair pulled back as the US dollar index bounced back ahead of the upcoming US general election and the Federal Reserve meeting.
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In my daily analysis of the US indices, the NASDAQ 100 is one that I find very interesting, due to the fact that we are sitting at a large, round, psychologically significant figure in the form of 20,000.
In my daily analysis of the yen related pairs, the NZD/JPY pair has caught my attention, due to the fact that we continue to bounce around 2 of the biggest moving averages that traders pay attention to.
at this point in time, I believe that the market is going to continue to see a little bit of negativity, but if we were to turn things around there is a point where I would want to get long again.