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 has been one that has been in my sights for a while. After all, we got the breakout above 0.99 which should have shown that the markets wanted to get bullish overall.
The EUR/JPY pair is very risk sensitive. The pair will literally rise and fall with risk sentiment, and as long as the market continues to suffer from headline risks, this pair will remain vulnerable.
The EUR/USD pair is one that has caused a fair amount of irritation for a lot of my trading friends. This is a pair that features one economy that is officially in recession, and another one that is trying to throw itself into one.
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The EUR/AUD pair isn’t one that most of you trade, and this is unfortunate. After all, a solid trend isn’t something that we see in the FX markets all the time these days. This pair has a habit of trending, and is much less difficult to trade than a pair like the EUR/USD, one that far too many of you focus on.
The GBP/CHF pair had a strong session on Friday as the hammer that formed on Thursday triggered a buying spree. The 200 day exponential moving average also found itself parked firmly below that price action, and as such we saw strength come back into this market that was so strong previously.
During lower volume Asian trading today gold (XAU/USD) turned bullish and is currently trading at 1723.
Begin your trading week with the Weekly Forex Forecast that brings you up to date information on the major pairs and to aid your trading moves in the right direction.
Before you stop trading for the weekend, check out this Forex signal from Fadi on the USD/JPY pair.
XAU/USD fell sharply after the latest Gold Demand Trends report published by the World Gold Council Thursday revealed that Global gold demand declined 11.0% in the third quarter.
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The EUR/USD pair had a strong session on Thursday as the Euro came back into favor. The bounce from the supportive range near 1.27 was strong enough to force the price back up to 1.28 during the session.
The AUD/USD pair had a fairly negative session during the Thursday trading hours as the "risk off" attitude came back into play. Markets were necessarily sold off as brutally as they were on Wednesday, but we still see continued weakness in risk assets around the world.
The USD/JPY pair shot straight up again during the Thursday session as fears of Bank of Japan intervention and asset purchases will continue to weaken the Yen.
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XAU/USD (gold) has been range bound since Friday. After yesterday’s choppy session, the pair looks like it is trying to wind up for a move as the range keeps getting tighter.
The EUR/USD pair initially rose during the session on Wednesday, but met the 100 day exponential moving average and the 1.28 resistance level and failed. Get full analysis here.