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/USD pair had a very volatile session on Monday, essentially banging around in a fairly sizable range, but at the end of the day gaining just a slight amount.
The USD/JPY pair rose during the session on Monday, slicing through the 103 handle. While this is in fact a bit of a breakout, I see a significant amount of resistance all the way up to the 103.50 level.
The GBP/USD pair initially fell during the session on Monday, but as you can see found enough support below the 1.6650 level to turn things back around and form a hammer.
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The EUR/USD pair has been grinding in a choppy manner to the upside for some time now, but what has concerned me about this pair is that there is no real clear movement in one direction or the other, except for the rare occasion.
The NZD/JPY pair has been very strong over the last month, and there is nothing on this weekly chart that suggests that it will continue to be. In fact, towards the end of March it broke out again, and it appears that we are heading to the 90 handle in short order.
On the attached chart, you can see that the EUR/CAD pair had a rough week to end the month of March. However, you can also see that I have the 1.50 level drawn just below there on the chart with a horizontal red line, which I believe will serve as a bit of major support for this marketplace.
The GBP/USD pair had a good showing towards the end of the month in March, but as you can see we found support at the 1.65 level again, which of course is vital to continue the uptrend in my opinion.
The NZD/USD pair has been going gangbusters lately, as the move has been relatively parabolic to the upside. The fact that we broke above the 0.85 level is of course important to me, as it is a large, round, psychologically significant number.
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Gold prices fell 3% for the week but managed to hold just above the bottom of the Ichimoku cloud on the daily time frame. During Friday's session, the XAU/USD pair initially fell to a 6-week low of 1285.68 before recovering to 1292.67.
The WTI Crude Oil markets try to rally during the session on Friday, and although we did finish with a positive close, we ended up forming a shooting star as well that is based on the $102 level.
The EUR/USD pair initially fell during the session on Friday, but the 1.37 level offered enough support to turn things back around and cause a significant bounce. This bounce of course formed a hammer, which is also right at a cluster that we had seen during the month of February.
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The USD/JPY pair rose during the session on Friday, breaking through a significant amount resistance in the neighborhood of the 102.50 level.
The AUD/USD pair initially rallied during the session on Friday, but as you can see pulled back in order to form a shooting star.