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 managed to plow higher during the session on Wednesday after traders came back from the Christmas holiday. However, we did manage to break above the 0.9950 level, so as far as I can see we are still consolidating.
The NZD/USD pair gapped lower at the open after the Christmas break on Wednesday. Typically, this would be the type of action that would have me shorting a market as it is very bearish.
XAU/USD appears to be consolidating as the uncertainty over the U.S. budget talks make traders reluctant to take sizable positions, long or short. In addition, many traders are on the sideline as trading slows down prior to the New Year.
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This free EUR/USD signal based on Elliott Wave theory will hopefully help you end the year profitably.
According to the analysis of the CAD/JPY and GBP/USD trader profited on a binary options platform.
The EUR/USD pair initially tried to rally during the session on Monday, even with the low volumes during the Christmas Eve shortened holiday. The rally failing is interesting as it happened at the 1.32 handle, which is exactly one handle below the last failure.
The USD/JPY pair is one that I have been talking about ad nauseam for several weeks now. This is because I believe that we are in the beginning of a massive trend change that could last months, if not years.
The GBP/USD pair initially rallied during the session on Monday, but could not hold gains in a light volume session for the Christmas Eve holiday. The pair simply could not hold above the 1.62 level, and as a result fell back down in order to challenge the 1.61 handle and formed a shooting star.
The USD/CAD pair has been a great pair for people that are looking to range trade lately. This makes sense as the two economies are so intertwined. The fact that there is a “fiscal cliff” possibly happening in the United States will continue to hurt the Canadian dollar as well.
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The CAD/JPY pair is one of my favorites currently. This is because the Bank of Japan has been very open about the fact that it is going to expand its massive monetary policy. Weakening the Yen seems to be one of the most important jobs of the central bank going forward.
The NZD/USD pair had a relatively weak Christmas Eve session on Monday, but all things being equal, you must remember that there was simply no volume. Because of this, there is it too much you can read out of the session but we can look at the totality of the chart and garner a few ideas.
XAU/USD closed slightly higher than opening but activity was subdued, as trading closed early ahead of the Christmas holiday. The XAU/USD pair (gold vs. U.S. dollar) traded as high as 1665.80 and settled at 1660.
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XAU/USD fell for the week but found support at the 1635.50 level. The XAU/USD pair closed higher than opening on Friday as disappointing U.S. consumer confidence data and a proposal from U.S. Speaker of the House of Representatives John Boehner to avoid the fiscal cliff failed to win support from his own party increased the precious metal’s safe-haven appeal.
The EUR/USD pair has been one of the more difficult trades to be involved in until recently. I can give you 100 reasons why the Euro should be falling in value, but evidently there are about 105 why the US dollar should be falling at the same time.