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 bullish bias and prediction that the next break would happen to the upside were completely correct as was the implication that support was a bit stronger than resistance.
According to the analysis of the USD/CAD and AUD/USD pairs, trader profited on a binary options platform. See how here.
Gold prices (XAU/USD) settled slightly lower yesterday as the 1326 level, where the bottom of the Ichimoku clouds on the daily chart resides, continued to offer resistance. Today the markets will focus on the U.S. nonfarm payrolls report and unemployment rate.
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The WTI Crude Oil markets fell hard during the session on Monday, plunging down towards the $99 handle. However, the $99 level is the bottom of the support zone that I had been talking about, so I do not have a sell signal yet.
The EUR/USD pair did very little during the session on Monday, but this makes sense of course considering that the nonfarm payroll numbers are coming out today. The markets have been concerned as to whether or not the Federal Reserve can taper off of quantitative easing, which should dictate the value the US dollar in general.
The GBP/USD pair fell during the session on Monday, breaking the bottom of the shooting star that had formed on Friday, which of course is a very bearish sign.
In the USD/CAD pair rose slightly during the session on Monday, showing that the 1.03 level should continue to be supportive.
The AUD/USD pair initially tried to rally during the session on Monday, but as you can see fell and formed a shooting star.
Lately there has been a lot of discussion around if the Pound is topping out against the US Dollar. Looking at the Technicals on the GBP/USD Pair, it is currently within a defined uptrend channel since July, from 1.48, with a current top around 1.62.
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Check out the weekly signal for the AUD/USD pair here.
According to the analysis of the NZD/USD and EUR/GBP pairs, trader profited on a binary options platform. See how here.
Last week the XAU/USD pair traded as high as 1327.05 after a deal passed by both houses of Congress to raise the U.S. borrowing limit. Although U.S. lawmakers managed to avert a debt default by a last-minute deal, lack of deficit reduction measures means we will probably see the same political games again in February 2014.
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The WTI Crude Oil markets tried to rally during the session on Friday, but struggled as you can see. The resulting candle formed a shooting star, which of course is a bearish sign. However, I think this market has far too much in the way of possible support going down to the $99 handle, and as a result I think there is going to be much difficultly in breaking this market down.
The NZD/USD pair rose again during the Friday session, but still can’t clear the 0.85 level on the close. This is the signal that I am waiting for in order to go long.