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 WTI Crude Oil market rose during the session on Monday, breaking well above the 98.50 level at one point during the session. However, as you can see the market fell from that high, and a pullback in order to form a shooting star.
The EUR/USD pair fell during most of the session on Monday, but found enough support at the 1.33 handle in order to attract buyers. What's most interesting about this chart right now is the fact that we have formed four consecutive hammers in a row based upon this support level.
The AUD/USD pair attempted to rally during the session on Monday, but as you can see failed miserably. By the end of the session we had a shooting star form on top of the 0.95 handle, an area that has been both support and resistance previously.
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The USD/JPY pair attempted to rally during the session on Monday, but as you can see the 95 handle has offered enough resistance to push prices back down. Because of this, the market formed a shooting star, which of course is a very good sign.
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The AUD/CHF printed a Weekly Doji or Pin Bar of sorts last week on a support zone that has propped the pair up several times before. Falling to a low of 0.8648 before rebounding and closing at basically the same price the week opened at the pair has been climbing since the markets re-opened and may clear last week’s high very soon.
The XAU/USD pair closed the week higher than opening as the American dollar lost some strength after economic data out of the United States came out weaker than expected.
The WTI Crude Oil market had another positive session on Friday, breaking above the $97.50 handle, an area that I thought would be a bit more resistant than it turned out to be. However, as you can see we have pulled back below the high back in late March, and as a result we are still somewhat tied to this range.
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The EUR/USD pair fell during most of the session on Friday, but as you can see the market found quite a bit of support below. The 1.33 handle has yet again served as support, as it has over the last couple of sessions.
The USD/CAD pair went back and forth during the session on Friday, initially rising, and then falling. However, it stayed in a relatively tight range during the balance of the session. As a result of this, we have formed a somewhat hammer like candle.
The GBP/USD pair fell most of the session on Friday, but as you can see bounced significantly from the 1.56 handle, an area that had been resistive back in the late part of April, early part of May. Because of this, we formed a nice looking hammer at the top of the recent and significant move higher.
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Sign up to get the latest market updates and free signals directly to your inbox.Don't begin the third quarter of 2013 without checking out this Forex forecast of some of the major pairs that many trade on a daily basis. Be prepared and plan accordingly because DailyForex.com has you covered here.
Many of the major Forex pairs have been strong lately. Will it continue this coming week? Find out here with the Forex forecast for the week of June 16, 2013.
DailyForex.com has everything you need to know about the upcoming third quarter of 2013 for the gold markets that have been in a sideways manner so far. Get the gold price forecast here and be prepared for what's to come.