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 went back and forth on Friday, but the market still looks like it wants to go higher based upon higher time frame charts such as the weekly. Having said that, I'm still bullish of this market although there is the possibility that we get a little bit of a pullback here.
The GBP/USD pair rose during the session on Friday, breaking the top of the neutral candle that we had printed on Thursday.
The USD/CAD pair fell slightly during the session on Friday, continuing to grind sideways as the pair typically does.
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The AUD/CAD pair rose during the session on Friday, bouncing off the 0.9750 level again. This is an area of consolidation and I find interesting, simply because we have the Australian dollar looking like it's trying to find support against the US dollar, then this market does tend to mirror that one.
The WTI Crude Oil markets continue to look a bit weak overall, as the market seems to be content sticking around the $94 level. This area looks as if it could be a bit of accumulation, or possibly the calm before the storm so to speak, as we go lower.
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The XAU/USD pair closed yesterday's session higher than opening as the American dollar lost ground after the U.S. trade balance and weekly unemployment claims data missed expectations.
The AUD/CAD pair fell during the session on Thursday, testing the bottom of the hammer that had formed on Wednesday.
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The GBP/JPY markets rose during the session on Thursday, slicing through the 160 handle without much fanfare.
The AUD/USD pair fell during the session on Thursday, continuing to consolidate right around the 0.93 handle.
The EUR/USD pair fell from the 1.35 handle again, showing that the area is in fact going to be rather significant resistance.
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The GBP/USD pair rose during the session on Wednesday, slicing through the 1.60 handle yet again. While this number is a large significant number, it has been pierced several times so I don't feel as much trepidation in this region as I once did.
The AUD/USD pair rose during the session on Wednesday, showing the 0.93 level be supportive yet again. As you can see on this chart, I have a line drawn on the 0.9250 level, which has been supportive in the past for the Australian dollar.