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 American dollar continued to gain ground against gold during yesterday's session on growing expectations that the Federal Reserve will provide more information about the timeline for scaling back its monthly asset purchases.
The WTI Crude Oil initially fell during the session on Tuesday, but as you can see the bottom of the range offered enough support in order to bounce this market high enough to make a serious challenge to the top of the shooting star from Monday.
The EUR/USD pair fell initially during the session on Tuesday, but as you can see yet again we have found that the 1.33 region has offered enough support in order to show the area to be an area of interest for the buyers yet again.
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The AUD/CAD pair fell during the session on Tuesday, but as you can see got a bit of a bid at the previous hammer that had formed at the absolute low that we've seen recently. It appears that the 0.9650 level is offering a bit of support, and as a result the market formed a nice looking hammer.
The USD/JPY pair rose during the session on Tuesday, confirming that the 95 handle is in fact offering a bit of support. In fact, I believe that the support level down here extends all the way down to the 94 handle, and as a result we should continue to see buyers step in at these low levels.
The AUD/JPY, like many of the Yen crosses has been hovering just above a major support level since last week, seemingly unable to go lower...or higher. Learn more here.
The XAU/USD pair (Gold vs. the American dollar) closed yesterday's session with a loss as the American dollar gained some strength after a report released from the Federal Reserve Bank of New York showed that its business conditions index rose to 7.8 from -1.4.
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.
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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.
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.
Japanese inflation isn't doing much to help the JPY. But there's more to the story - get the JPY signal here.
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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.