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 USD/JPY pair fell during the bulk of the session on Thursday, but as you can see a found enough support below in order to bounce and form a hammer.
The GBP/USD pair fell during the majority of the session on Thursday, but found enough support down towards the 1.66 level in order to form a hammer. This hammer of course signifies that there is buying power below, and this could send the market higher.
The USD/CAD pair has been one that I’ve been bullish of for some time now. The US dollar continues to appreciate overall against the Canadian dollar, which I find interesting considering that the oil markets have been rising at the same time.
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The XAU/USD pair closed yesterday's session lower than opening after four consecutive days of gains. Although the pair initially traded as high as $1345.31 an ounce, the precious metal lost some strength on technical selling and as better than expected U.S. housing data led to a bounce in the dollar.
The GBP/USD pair continued to hover just above the 1.66 level on Wednesday, as the market looks to take a rest. The recent pullback may have scared some of the weaker hands out of the market, but in reality was something that was needed.
The EUR USD pair fell during the session on Wednesday, and even managed to close below the 1.37 handle. However, it wasn’t necessarily a convincing move and it’s easy to tell that there is quite a bit of support below this area anyway.
The USD/CAD pair had a strong showing on Wednesday, as the uptrend looks set to continue finally. The recent pullback was needed though, and as a result I think that the buyers are going to start stepping in again.
Check out the Forex signal for the GBP/USD pair here.
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Check out the Forex signal for the EUR/USD pair here.
The American dollar continued to lose ground against gold during yesterday's session as worries over political turmoil in Ukraine and weaker than expected economic data out of the United States increased investors' appetite for the shiny metal.
The WTI Crude Oil markets fell during the session on Tuesday, but found more than enough support down at the $101 level to turn everything back around and keep the market afloat. In fact, the support was strong enough to push the markets up roughly 1 dollar, which formed a nice-looking hammer for the daily candle.
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The GBP/USD pair try to rally during the session on Tuesday, but got into a bit of resistance above the 1.67 handle, so much so that we ended up running a shooting star for the session.
The USD/JPY pair fell during the session on Tuesday, but as you can see found support at the 102 level yet again. I am starting to see the potential for some type of ascending triangle at the moment, but I do have to admit that my longer-term bias is to the upside anyway.