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/CAD pair rose during the session on Thursday, finally smashing through the 1.04 handle, an area that I referenced as a trigger to start buying the US dollar over the Canadian dollar.
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Gold gave up some of its recent gains against the American dollar during yesterday's session as investors continued to take profit off the table. The XAU/USD pair had extended its gains and jumped to a three-week high on Tuesday after the bulls managed to break through the 1326 resistance level.
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The WTI Crude Oil markets fell during the session on Wednesday, finding support at the $96 level. The resulting bounce formed a nice hammer for the day, and this of course is very supportive looking candle all of a sudden.
The USD/CAD pair rose during the session on Wednesday, slamming into the 1.04 handle. This area of course was resistive, as I had been talking about, and it is the area that we need to see a nice breaking of in order to start buying.
The NZD/USD pair fell hard during the session on Wednesday, proving the 0.85 level would be overly resistive as one would expect.
The EUR/GBP pair rose during the session on Wednesday, breaking above the 0.85 handle, an area that I've been talking about for some time now. By closing above the 0.85 handle, and now feel comfortable enough to start buying this pair on pullbacks, or simply a break above the highs for the session.
The GBP/JPY pair fell hard during the session on Wednesday, slamming into the 157 handle. However, we do get a little bit of a bounce but I still feel that this market is probably heading down towards the 155 level before it's all said and done.
This weekly chart shows that last week formed a strongly bullish candle, closing hard on its high.
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The XAU/USD pair (Gold vs. the American dollar) produced a bullish candle as the American dollar lost strength across the board during yesterday's trading session.
The WTI Crude Oil markets initially tried to rally during the session on Tuesday, but as you can see ran into a lot of trouble just above the $100 level.
The EUR/USD pair shot straight up during the session on Tuesday after the nonfarm payroll numbers came out much lighter than anticipated. Because of this, traders anticipate that the Federal Reserve will not be able to taper off of quantitative easing anytime soon, and this of course is dollar negative.
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The NZD/USD pair rose during the session on Tuesday as all currencies in general gained against the US dollar.
The AUD/USD pair shot higher during the session on Tuesday, as the nonfarm payroll numbers came out rather disappointing.