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 USD/CAD pair initially rose during the session on Monday as traders begin to worry about the fiscal talks going on in Washington DC. However, as the day wore on there came more and more signs of positive U.S. Congress dealing with the fiscal talks that have driven the headlines over the last couple of weeks.
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XAU/USD (gold vs. the greenback) ended the final trading day of 2012 higher than opening on growing confidence a deal can be reached in the United States to avoid painful spending cuts and tax hikes which could seriously damage the economic recovery.
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According to the analysis of the USD/JPY and EUR/USD trader profited on a binary options platform.
XAU/USD printed a bearish candle on Friday but rose slightly on a weekly basis. It appears that prices established a support level at 1652 and a resistance at 1666 as market players are paying attention to U.S budget talks to see if lawmakers can reach a deal to avoid a series of spending cuts and tax hikes beginning on January 1st 2013.
The EUR/USD pair fell during the session on Friday, only to bounce off of the 1.3150 level. This level has served as support over the last two weeks, and previously was significant resistance.
The USD/JPY pair fell during the Friday session as the market finally salsa negativity. This pair has shot straight up from the 84 handle, and as an exclamation point to the situation we managed to gap up higher after the Christmas break.
The GBP/AUD pair has spent the better part of the last two weeks bouncing around the 1.55 handle. When look down upon through the prism of the longer-term charts, and this is a significant area, and the fact that we are finding support at this area does suggest that we should see higher prices.
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The EUR/USD pair bounced around during the session on Thursday, but did not break out of the consolidation that we have been seen over the last week or so.
The USD/JPY pair continued to jump higher during the Thursday session as the world focuses on the Bank of Japan and what it is going to do next. This pair has been essentially reacting to the new mandate that the Bank of Japan will find itself having, namely keeping an inflation target of 2% and trying to devalue the Yen.
The USD/CAD pair fell during the Thursday session, and bounced off of the 0.99 handle. This is an area that I suspect it could as the area has been supportive. The fact that we closed the day forming a bullish hammer suggests to me that we will make a run towards the 0.9950 level which I see as massive resistance.
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According to the analysis of the NZD/USD and USD/CAD trader profited on a binary options platform.
The EUR/USD rose during the session on Wednesday again as the bullishness continues. However, as you can see by the chart there seems to be a lot of give back towards the end of the day as there are relatively long wicks on top each of the candles.