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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Political uncertainty was the major focus in the markets yesterday. The XAU/USD pair rose on Monday as political turmoil in Europe and weaker than expected economic data out of the United States boosted the precious metal's safe-haven appeal.
The EUR/USD pair fell rather dramatically during the session on Monday, as we retested the 1.35 level for support. While I expected this move, I didn't expect it in a matter of few short hours and this of course has caught many of my fellow traders off guard.
The GBP/USD pair had a positive session on Monday, but did not managed to break above the 1.58 level leaving me to believe that we are simply consolidating, and that the bullishness that we saw for the session isn't necessarily indicative of the some type of turnaround.
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The AUD/USD pair had a relatively quiet session on Monday, as we initially fell towards the 1.04 handle. However, by the end of the day we bounced enough in order to form a candle the looks somewhat like a hammer, which of course is interesting after we have had two other candles in a row that looked very much like hammers.
The CHF/JPY cleared the 1998 high last week at 100.85 with little effort and continued on to the 2007 highs at 101.84 before stalling at 102.62 and forming an 'Inside Bar' on the daily chart yesterday.
Check out this signal for PMI (Purchasing Manager's Index) which is linked to the Euro, from expert Andrew Keene based upon the latest news from the region.
According to the analysis of the USD/JPY and EUR/USD trader profited on a binary options platform.
The major Forex pairs had an interesting week last week. Will this affect your trading for the new week ahead? Find out here with the weekly Forex forecast.
The XAU/USD pair closed higher than opening on Friday as the American dollar lost strength after the unemployment figures came in worse than expected. Initially the pair traded as high as 1682 after the jobs report.
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The EUR/USD pair rose again on Friday as the Non-Farm Payroll numbers came out as expected. The lack of bad news allowed the bulls to come back out, and as a result the bullish behavior of this market continued.
The USD/JPY pair continued to rally on Friday as the Non-Farm Payroll numbers came out as expected. The pair has been brutally bullish lately, and I see no reason to think this is going to change.
The GBP/CHF pair has completely fallen apart over the last several sessions. The Friday session was just another collapse in a long running fall. This pair is a bit like the GBP/USD pair, but on steroids.
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Gold prices declined yesterday as the adrenalin rush of the Federal Open Market Committee meeting wore off. Yesterday, data from the world's largest economy were mixed. The Chicago purchasing managers index came in stronger than expected with a print of 55.6 and Personal Income rose 2.6%.
The EUR/USD pair fell initially during the Thursday trading hours, but as you can see by the daily chart we had experienced a bit of a rally later in the day. The resulting hammer suggests exactly what I've been thinking for some time now: that the 1.35 level will in the being massive support going forward.