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 EUR/JPY pair fell during the session on Tuesday, crashing through the 139 level. The 139 level of course has been ordered been resistive in the past, so it makes sense that this market will continue to gravitate towards this area.
The EUR/GBP pair continues to grind lower as the Tuesday session was of course bearish as well. However, we did bounce significantly off of the 0.8050 level in order to form a hammer. Get the full analysis for June 11, 2014 here.
Check out the daily Forex signal for the GBP/USD pair for June 11, 2014 here.
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Get the daily Forex signal for the EUR/USD pair for June 11, 2014 here.
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Check out the weekly Forex signal for the CHF/JPY pair for June 10, 2014 here.
Gold had an extremely and unusually quiet day of trading the first day of this week. Towards the close of Monday’s London session the price had barely moved, sticking within a range just greater than $5.
The WTI Crude Oil markets had a very strong showing during the session on Monday, but remains below the $105 level. The area between the $104.50 level and the $105 level should continue to be resistive, but ultimately I believe that the $105 level will get broken to the upside.
The EUR/USD pair tried to rally initially during the day on Monday, but as you can see fell significantly after failing. With this, the market tested the 1.3600 support region, which is the top of the wick from the hammer last week, which saw the market fall the way down to the 1.35 level.
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The silver markets tried to rally during the session on Monday, but struggled to hang out above the $19 level during the day. With that, I believe that this market pulling back and forming a shooting star perhaps suggests that we are going to continue to see weakness in this market.
The USD/CAD pair fell during the course of the session on Monday, pulling back to the 1.09 level. This area was the site of a recent breakout, and as a result I believe that we will more than likely see support in this general vicinity.
Check out the GBP/USD Forex signal for June 10, 2014 here.
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Check out the USD/JPY Forex signal for June 9, 2014