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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This is one of my favorite pairs, the TRY/JPY. This is because it pays such a nice swap, and in an environment where there is almost no yield, that of course will attract a certain amount of money regardless.
The GBP/USD pair fell during the session again on Friday, as we have cleared the 1.70 level to the downside. However, I see a significant amount is for all the way down to the 1.69 handle, and it is not until we get below there that I’m considering selling this pair.
The EUR/GBP pair fell during the day on Friday, continuing the bearish pressure that we have seen for some time. Quite frankly, I feel that the market breaking below the 0.80 level was in fact significant, and as a result I believe that we have started the next leg lower.
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The CAD/JPY pair fell during the session on Friday, as oil markets dropped concurrently. We have now found the support at the 94 handle, an area that as you can see is plainly marked on this chart as both support and resistance previously.
End the last week of July 2014 with the weekly forecast for some of the major Forex pairs here.
Bitcoin has finally freed itself from the trading zone and touched the levels which have not been seen since the start of this month. Get the Bitcoin/USD analysis for July 25, 2014 here.
Gold weakened against the American dollar for a third session on Thursday as the conditions in the marketplace dulled desire for safe haven diversification. Yesterday, data from the world's largest economy were mixed.
The WTI Crude Oil markets fell during the course of the day on Thursday, as we continue to consolidate right around the $102 level.
The EUR/USD pair has been quite volatile recently, and the action on Thursday just showed more of the same. After all, the market went back and forth and had a fairly decent sized range, but at the end of the day had not really establish much in one direction or the other.
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The USD/JPY pair initially fell during the session on Thursday, but as you can see ended up shooting straight up in the air and having decent gains.
The USD/CAD pair initially fell during the session on Thursday, but as you can see found enough support below in order to turn things back around and form a hammer. That hammer of course suggests that the market is in fact going to continue going higher given enough time, and ultimately we should see the market try to break out above the 1.08 level.
The NZD/USD pair fell during the day on Thursday, as the reaction to the Reserve Bank of New Zealand and its rate increase was fairly muted. After all, the statement that accompanied the rate decision suggested that perhaps housing was cooling and New Zealand, and that of course could lead to a less than aggressive tightening cycle.
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Sign up to get the latest market updates and free signals directly to your inbox.The XAU/USD pair (Gold vs. the American Dollar) closed lower than opening for a second consecutive day as gains in U.S. equities helped draw investors away from the precious metal.
The WTI Crude Oil markets initially gapped lower at the open on Wednesday, but as you can see found support at the $102 level in order to turn things back around and form a massively bullish candle.
The EUR/USD pair continued its negative tone during the session on Wednesday after we had broken below the 1.35 level on Tuesday. With that being the case, the market looks like it’s ready to continue going lower, but with the tight range that we had seen during the Wednesday session, a bounce is certainly possible.