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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There are three hammer like candles before the shooting star and that normally means consolidation at best.
The EUR/USD pair got a boost during the session on Thursday as US numbers came in weaker than anticipated.
The shooting star of course is a negative sign, and although I am longer-term positive this market, it does tend to make me a bit nervous when I see candles shaped like this.
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Going forward, I expect the Euro to do better than the Pound, simply because the Europeans have just exited a recession.
The USD/CAD chart shows that for close to a year now an upward trend has held, with two bullish trendlines and three bullish reversal candles (highlighted in blue) that were all broken to the upside by the next candle.
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The level of 1.3245 held as it was the low of the bullish reversal a few days ago, however this level held quite weakly.
The XAU/USD pair ended yesterday's session higher than opening as the conditions in the marketplace have increased the precious metal’s safe-haven appeal.
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It looks like were going higher sooner or later.
The NZD/USD pair rose during the session on Wednesday, breaking the top of the hammer from the Tuesday session, which is typically a nice buy signal.
The USD/JPY pair did very little during the session on Wednesday, but it did try to break above the 98 handle and failed.
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Sign up to get the latest market updates and free signals directly to your inbox.The EUR/USD pair did very little during the session on Wednesday, as we continue to hover above the 1.32 support level.
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