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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For the third week in a row, the XAU/USD pair settled lower than opening. The pair rose Monday and Tuesday on expectations that Federal Reserve chief Ben Bernanke will defend the central bank's quantitative easing program.
The EUR/USD pair had another negative session on Friday, and even managed to break down below the 1.3000 handle. However, you can see that this market did provide some support in the general vicinity and we popped back over the 1.3000 handle by the time the close came.
The GBP/USD pair has been in a massive free fall for the last several weeks. It seems like every time the Pound tries the gain some type of putting, the market slaps it back down. With that being said, there has to be a point in time where the support finally comes back into the marketplace.
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The EUR/JPY pair rose during the Friday session as the 120 level continues offer support. This market has been extraordinarily bullish over the last several months as you know, and as a result it does not surprise me that the next major handle from the fall acted as support.
Gold (XAU/USD) Formed a weekly Inverted Hanging Man formation at the close of last week, suggesting that prices could be heading back up.
The WTI Crude markets fell during the session on Thursday, as a general "risk off" vibe hit the commodities markets. This chart looks like one the ones to grind lower, and I did mention previously that I thought the $92.00 level would be somewhat supportive.
The XAU/USD pair closed lower than opening for a second day as the greenback continued to gain strength across the board after the Chicago PMI data and weekly jobless claims figures came out better than forecasts.
The EUR/USD pair fell during the session on Thursday, as the consolidation continued. Looking at this chart, it's easy to see that the 1.30 level will more than likely offer significant support, as it did back in January.
The USD/CAD pair did something rather bullish during the Thursday session: it broke above the top of the most recent shooting star. This often leads to more bullishness, and in turn an extension of the rally.
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According to the analysis of the AUD/USD and EUR/USD trader profited on a binary options platform.
Follow up on yesterday's EUR/USD signal from Fadi and learn what the recommendation is here.
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The WTI Crude market went back and forth during the session on Wednesday, and continued to straddle the $92.80 level that has been a fulcrum for the market lately. As you can see, we have been bouncing off the $92.00 level, and it seems to be offering significant support.
The XAU/USD (Gold vs. the American dollar) pair settled lower Wednesday, pulling back after sizable gains in the previous sessions, as better-than-estimated U.S. home sales and durable goods data increased demand for the greenback ahead of today’s GDP and unemployment claims reports.