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 markets rose during the session on Friday, but as you can see the markets gave back quite a bit of gains by the time the market close. This is probably because of the nonfarm payroll numbers come out so weak.
The EUR/USD pair initially fell during the session on Friday, but as you can see bounced off the 100 day EMA as it provided dynamic support. This market continue to go higher from this point in time, mainly predicated upon the nonfarm payroll numbers coming out weaker than anticipated in the United States.
The USD/CAD pair rose again during the session on Friday, boosted mainly upon the weaker than anticipated Canadian jobs numbers. The nonfarm payroll numbers out of the United States were weak as well, but they were the “lesser of two evils”, if you will.
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The GBP/USD pair initially fell hard during the session on Friday, but as you can see based upon the daily candle, the market got quite a boost later and shot straight higher. The resulting candle is a hammer, and it is sitting underneath the 1.65 level.
Check out the weekly Forex forecast for some of the major pairs here.
The gold market appears to be stable with the bulls and bears gaining and losing ground almost equally during the Asian session. Since yesterday the XAU/USD pair has been trading in a relatively tight range as investors are awaiting the release of the monthly non-farm payrolls report.
The WTI Crude Oil markets fell during the session on Thursday, dipping below the $92 level. With that being said, it’s on enough support to pop higher, and form a nice-looking hammer. This hammer suggests that perhaps the market is going to bounce from here, something that would not surprise me at all.
The EUR/USD pair bounced off of the 1.3550 level during the session on Thursday, showing that the area is in fact going to be supported going forward.
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The XAU/USD pair continued to slide and closed lower than opening yesterday. The American dollar strengthened across the board after the minutes from the Federal Open Market Committee's December policy meeting reinforced expectations asset purchases will be finished later this year and ADP jobs data beat expectation.
The WTI Crude Oil markets fell yet again during the session on Wednesday, plummeting down to the 92.50 support level again. This area has been tested a couple of times now, and the fact that we have fallen all the way down here does in fact suggested me that the sellers are going to finally break this market down.
The EUR/USD pair fell during the session on Wednesday, testing the 1.3550 level. This is an area that has been significant support in the past, as well as significant resistance.
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Sign up to get the latest market updates and free signals directly to your inbox.The EUR/JPY pair try to rally during the session on Wednesday, but as you can see ran into far too much trouble above the 143 level.
The USD/CAD pair had another bullish session on Wednesday, breaking above the 1.08 handle. Quite frankly, this is one of those pairs is that goes parabolic at the drop of a hat.
Check out the signal for the USD/JPY pair here.