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/JPY pair rose during the session on Thursday, but as you can see it struggled to hang onto the gains for any real length of time. The resulting candle is somewhat of a shooting star, and it does suggest that the market might be ready to pull back.
The USD/JPY pair rose during the session on Thursday, but as you can see we are still mired in essentially a nowhere market. The 99 handle seems to be the focal point of traders at the moment, and as a result I think that the market will more than likely do nothing in the short term.
The NZD/USD pair went back and forth during the session on Wednesday, which I found very interesting considering the fact that we had fallen with some force during the Tuesday session.
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The Australian Dollar continues to weaken against the Swiss Franc and has now formed a bearish flag formation on the 4 hour chart.
The WTI Crude Oil markets fell during the session on Wednesday as we continued to test the lows of the consolidation area that has contained the markets for a few months now.
The XAU/USD pair closed the day higher after three consecutive days of losses as concerns over the U.S. budget and debt ceiling boosted the appeal of the precious metal.
USD/CAD fell initially during the session on Wednesday, but as you can see found enough support below the 1.03 handle in order to form a candle that looks much like a supportive hammer.
The EUR/USD pair rose during the session on Wednesday as the markets continue to show an anti-Dollar bias.
What has actually happened over the week that has passed since, is that the price moved sharply up to a high of 1.6162 that same night, and has been falling fairly steadily ever since. Get the full analysis here.
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The price fell sharply after the Federal Reserve's announcement last Wednesday evening, but returned quickly, so although 98.54 was broken the price only spent about 3 hours below this level, and the bullish channel's lower trend line held well.
The XAU/USD pair initially fell during yesterday’s session but bounced enough to form a hammer-like candle just above the 1305 support level. After breaking below the 1318 support level, gold prices hit the lowest level in 4 days.
The WTI Crude Oil markets fell during the balance of the session on Tuesday, touching as low as the $102 vicinity. The resulting candle for the day was a nice looking hammer though, and we are at the bottom of the recent consolidation area as well.
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The GBP/USD pair fell during the balance of the session on Tuesday, as we continue to focus on the 1.60 handle. Quite often, you will see markets focus on one particular level for a while before taking off.
The NZD/USD pair fell hard during the session on Tuesday, breaking down below the 0.8250 level towards the end of the day. The "risk off" attitude of market participants of course have the New Zealand dollar selling off, but as you can see the market has been very positive and parabolic over the last several weeks, so it makes perfect sense the market ran out of steam at this point in time.