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/USD pair had a negative session on Wednesday, as a close below the 1.30 level for the first time. It has fell below that level previously, but never close therefore the session, a small but crucial difference.
USD/JPY had a strong showing during the session on Wednesday, as it initially dipped lower, but then turned around and bounced fairly hard. At the end of the day, we found ourselves just below the 94 handle, and this of course is a fairly bullish sign.
The USD/CHF pair shot straight up during the session on Wednesday, eclipsing the 0.9450 resistance area. However, the market is running into the 0.95 handle, an area that has been significant resistance in the past.
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The AUD/CAD pair breached the 8 month high at 1.0596 yesterday trading as high as 1.0609 before pulling back to close higher than opened at 1.0559 and printing a pseudo pin bar on the Daily chart.
With limited news out from the Eurozone, EURUSD trades have ground to a near halt as traders pare bets ahead of Central Bank decisions. The major risk factors facing the EU remain unresolved as Italian politics throw the region into further turmoil.
Check out this Forex signal for the EUR/GBP pair from the experts at BNRY and learn where the pair is headed.
The WTI market had a slightly positive session during the Tuesday trading hours, but did not break above the $91.00 level, an area that I would've liked to seen broken to the upside in order to start buying again.
The XAU/USD (Gold vs. the American dollar) settled slightly higher yesterday, marking the first rise in five trading sessions, as caution set in ahead of high impact economic data releases later today.
The EUR/USD pair had a fairly back and forth session during the Tuesday trading hours, eking out a small gain in the end. However, when you look at this candle, you can see that the range was relatively tight overall.
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The AUD/USD pair rose during the session on Tuesday, after forming an absolutely perfect hammer during the Monday session. The thing that intrigued me the most about the hammer on the Monday session is that it was formed at the 1.02 support level.
The USD/CAD pair tried to rally yet again during the Tuesday session, but as it has over the last three trading days, it simply found the 1.03 level to be far too resistive. Because of this, I feel that we are eventually going to see a pullback, and quite frankly and surprise we haven't seen it already.
The Kiwi (NZD/USD) has re-entered the ascending channel that it has been trading in since July 2012 after a brief hiatus to the downside, and apparently unsuccessful rally by the bears.
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The WTI Crude markets fell during most of the session on Monday, but as you can see it got a significant bounce by the end of the session. This formed a hammer, and as a result a possible buying opportunity.
It appears that the XAU/USD pair found some support during the Asian session today after four consecutive days of losses. Although the pair has been suffering from strengthening U.S. dollar since October, the trading action is getting tight recently.