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 NFP was released on Friday, showing that the US added more jobs than expected in November; rushing the EUR to a 5 week high against the USD. The pair reached a high of 1.3721 and closed at 1.3705.
Check out the signal for the GBP/USD pair here.
Check out the signal for the USD/JPY pair here.
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Check out the signal for the EUR/USD pair here.
The XAU/USD pair (Gold vs. the American dollar) fell for the week but managed to close just above the 1225 support level on Friday, even after the economic data out of the United States beat forecasts.
The WTI Crude Oil markets did almost nothing on Friday, as the nonfarm payroll numbers came out a bit better than anticipated. This shows that the Federal Reserve may taper sooner than anticipated, and because of this the Dollar should appreciate over time.
The EUR/USD pair initially fell during the session on Friday, but once the dust settled from the nonfarm payroll report, traders started to selloff the US dollar in reaction as although the announcement was stronger than anticipated, it wasn't enough to get people to think that the Federal Reserve is going to taper anytime soon.
The USD/CAD pair went back and forth during the session on Friday, in reaction to the nonfarm payroll number as it typically does. By the end of the day we had essentially got nowhere, and as a result I believe that we will continue to consolidate just above the 1.06 handle for the short-term.
The AUD/USD pair initially fell during the session on Friday, but as you can see the 0.90 level offer quite a bit of support, and we formed a nice looking hammer as a result of the bounce. That bounce shows just how important the 0.90 level is to the marketplace, and because of this, I believe that the market is ready to do a little bit of a "dead cat bounce."
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Gold gave up some of its recent gains against the American dollar during yesterday's session on the back of the solid U.S. economic figures.
The WTI Crude Oil markets did very little during the session on Thursday, which would have been expected based upon the fact that the Non-Farm Payroll numbers are due today. This of course will move all markets, and this one will without a doubt be no different.
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The EUR/JPY pair went back and forth during the session on Thursday, essentially hugging the 139 handle. This area continues to be a bit of a magnet for price, and I believe that we will see that begin to change after the nonfarm payroll announcement today.
The GBP/USD pair fell during the bulk of the session on Thursday, and even tested the 1.63 level. This level is supportive though, and it doesn't surprise me at all that we got a little bit of a bounce from there.