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 GBP/USD pair broke above the 1.55 handle during the session on Monday, an area that I considered very important for this currency pair. However, as you can see on the chart the market failed to stay above there for any significant close, and as a result I believe that the sellers have stepped in at an area that looked a very obvious for resistance to appear.
The AUD/USD pair rose during the session on Monday, breaking through shooting stars that we have formed over the last two weeks. However, the 1.0350 level looks like it's offered enough resistance to keep the buyers at bay.
The GBP/USD traded as high as 1.5545 yesterday and closed as a daily pin bar reversal from this level as well as double Pin Bars on the 4 Hour Time Frame.
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End off the month of April with a Forex forecast of some of the major pairs. Based on their performance last week, the upcoming week and month may be important for your trading. Get the details here.
CurrencyShares Japanese Yen Trust (NYSEARCA: FXY) pushed higher on April 26, 13 to 100.12 after news of latest inflation figures from Japan. The trust remains at a -2.66% level below its 50 day moving average and +2% above its 52-week low.
The EUR/GBP is entering a medium-term downtrend. Learn what this can mean for your trading with this free Forex signal from BNRY here.
Although gold prices declined on Friday, the market had a strong week overall. The XAU/USD pair traded as high as 1485.45 but prices reversed after encountering heavy selling pressure at that point.
The WTI market fell during much of the session on Friday, but as you can see bounced off the $92.00 level in order to form a hammer. This hammer is placed in an area that I find very interesting as it does suggest that perhaps the $92.00 level is now trying to act as support.
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The EUR/USD pair gained during the Friday session, but as you can see it just bounced enough to show the 1.30 level as being supportive. However, this isn't exactly a surprise as we've seen support here over and over now.
The NZD/USD pair tried to rally during the Friday session, but just as it did on Thursday, it simply could not stay above the 0.85 level. It is because of this that I think we may see some weakness coming in this pair, but I am not necessarily calling for some type of meltdown as the market is most certainly well supported at the moment.
The CAD/JPY pair is one of my favorite to trade under normal circumstances. This is because the fundamental reasons that push the market are so obvious at times. As a general rule, this pair will follow the trajectory of oil as Canada exports, and Japan has to inform 100% of the petroleum it uses.
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Sign up to get the latest market updates and free signals directly to your inbox.In spite of last Thursday's massive rush higher for the British Pound, the Japanese Yen is showing signs of strength against it as well as most other major currencies.
Learn which position to take for the USD/CAD pair here from this Forex signal from the experts at BNRY.
The XAU/USD pair had a bullish day as gold buying frenzy continued to drive prices higher. Also the recent weakness in the American dollar has been providing support for the shiny metal.