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 EUR/JPY got a nice jolt higher during the session on Wednesday as the Bank of Japan has now made it clear that they continue to pursue a weak Yen policy. Not only that, but they also have announced that their inflation target is no longer 1%, but is now 3%.
The USD/CAD pair state above the parity level during the Wednesday session even though we saw a spike in the price of oil during the session. This is unusual, as the Canadian dollar normally benefits from higher oil prices.
The EUR/JPY, along with all of the JPY crosses is climbing shortly after traders in Tokyo return from lunch. At time of writing, around 1:15PM in Japan, the EUR/JPY has begun another wave upwards, smashing yesterday's high by at least +30 pips and appears to have the full cooperation of the Bulls to help push the pair even higher.
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According to the analysis of the USD/JPY and EUR/USD trader profited on a binary options platform.
Gold vs. the U.S. dollar or XAU/USD has been bullish since the U.S. presidential election resulted in favor of Barack Obama. Gold investors have been focusing on the fact that the Federal Reserve will continue to print money as long as it takes and this will devaluate the American dollar.
The EUR/USD pair fell during the session on Tuesday, and even managed to break below the 1.27 handle. Because of this, it does look like we are certain see significant weakness in this market.
The CAD/JPY pair fell during the session on Tuesday in order to retest the 79 handle for support. This level was marked by a hammer on Friday, as well as many other times where the market has fallen yet found significant support.
The USD/JPY pair continues to do very little during the session on Tuesday, as the 79 handle offers significant support. This market has been manipulated for some time now, but this doesn't mean that we can't as small time retail traders take advantage of what the larger forces in the markets are doing.
The GBP/JPY began trading in a channel on June 1 of this year where it established a higher low than the previously established yearly low set back in January of this year.
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According to the analysis of the AUD/USD and EUR/USD trader profited on a binary options platform.
Last week Gold (XAU/USD) printed a perfect bullish engulfing candle that opened on the Weekly support level at roughly 1680 and climbed almost 700 pips before closing for the week.
The EUR/USD pair fell during the session on Monday in an otherwise quiet environment. However, I can see that we are sitting on the 1.27 level, an area that has caught my attention. Because of this, I am looking to short this pair if we get below 1.27 on a four hour candle.
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The USD/JPY pair formed a hammer during the Friday session, and that is where investors and traders found themselves when we open on Monday. At the end of the Monday session, we saw a slightly positive candle, but nothing really to write home about.
According to the analysis of the EUR/USD and USD/JPY trader profited on a binary options platform.