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 XAU/USD pair (gold vs. the greenback) closed the week lower than opening as failure to break above the 1695-1705 zone resulted in a sell-off.
The EUR/USD pair had another bullish session on Friday, as the buyers continue to take control in this market. What I find interesting is that we are currently testing the 1.35 level, and although we didn't break above that we certainly close on a high note for the week.
The GBP/CHF pair is one that has been drifting lower for some time now. Part of this is because of the fear of a so-called "triple dip recession" in the United Kingdom.
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The USD/JPY pair has been on an absolute tear lately as the Bank of Japan has recently announced that they were going to go out of their way to devalue the Yen. The skyrocketing value of the Japanese currency has been killing the export economy for this country, and as a result drastic actions will have to be taken.
Last week the GBP/AUD hit a low of 1.4965, establishing a 3 touch trend line extending from the February 2012 lows through the August 2012 lows.
We have moved from our negative neutrality and as we have mentioned in our previous report, a probability appeared that this pair might be in continues bullish technical combination. Get the analysis here.
The NZD/USD has been range bound for almost three weeks as the pair is trapped between 0.8455 and 0.8330. As a result of better-than-expected data from China and Australia, the New Zealand dollar continues to show resilience against the greenback.
Gold prices dropped after data released yesterday provided further evidence that the U.S. economy is continuing to heal.
According to the analysis of the USD/JPY and EUR/USD trader profited on a binary options platform.
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We tried to climb above the upper band of the 1685-1695 zone and didn't have enough gas. The XAU/USD pair closed lower than opening after lawmakers in the U.S. House of Representatives approved a suspension of the debt ceiling until May 19th.
The EUR/USD pair had a fairly wide range during the Wednesday session, but officially closed at the 1.34 level. We went back and forth and decided almost nothing. This is because the pair is currently consolidating between the 1.3250 and 1.33 levels.
The USD/JPY pair fell during most of the session on Wednesday, as the Yen continued to gain overall. However, by the end of the session we bounced enough to form a hammer like candle.
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Sign up to get the latest market updates and free signals directly to your inbox.The GBP/USD pair went back and forth during the Wednesday session for the third day in a row. We currently been bouncing on the 1.58 handle, and as a result the area looks like its trying offer a significant amount of support.
Yesterday the EUR/CAD rocketed upwards over 100 pips after the Bank of Canada left the interest rate unchanged. The EUR/CAD has been steadily marching higher since establishing an all time low in August at 1.2129.
According to the analysis of the AUD/USD and EUR/USD trader profited on a binary options platform.