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 XAU/USD pair closed the day higher than opening as the Obama administration's opposition to Republicans' plan to balance the U.S. budget in the long term renewed fears that the lawmakers will continue play their political games and wait until the last minute.
The EUR/USD pair fell during the early part of the session on Thursday, but as you can see by the charts bounced enough in order to form a bit of a hammer. However, there is just as many reasons to be negative of this pair as there are positive, and as a result it very difficult to take a longer-term stance at this moment.
The EUR/JPY pair had a positive showing on Thursday, challenging the 125 handle as resistance. As you can see by the daily chart, the 125 handle did in fact told as resistance, but it seems more like a market that is simply bouncing around the handle, rather than failing at it.
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The GBP/JPY pair rose during the session on Thursday quite dramatically. In fact, the British pound did well against almost everything out there, and as a result it was one of the best days for the Pound that we have seen in what seems to be ages.
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The EUR/GBP pair has been evolving for several weeks in a consolidation pennant and is having difficulties to resume a clear bullish trend. Get this Forex signal for the pair here and learn what's next.
The WTI Crude market had a back and forth session during the Wednesday, as we continue to churn just below the $93.00 level. This level is resistive as I had anticipated, and as a result this does not surprise me.
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Gold prices lost some ground against the greenback after the latest U.S. retail sales data came out stronger than expected. Data released from the Commerce Department showed that sales jumped 1.1% in February.
The EUR/USD pair did fall during the Wednesday session, continuing the general bearish attitude of the markets. This doesn't surprise me, I still believe that the Euro could fall farther, but we are certainly sitting on top of what can be best described as a "noisy area", down to the 1.28 level.
The GBP/USD pair rose during the session on Wednesday, as I had suggested could happen. However, I also suggested that the 1.50 level we continue to offer significant resistance, not only because of the former support, but also the large round psychological nature of the number.
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Sign up to get the latest market updates and free signals directly to your inbox.The USD/CAD pair again during the Wednesday session as the 1.0250 level acted in a supportive manner yet again. This pair has recently broken out above the 1.01 level, and as a result many technical traders, myself included, would have loved to seen some type of pullback to that level to prove it as being supportive now.
The AUD/CAD, like its cousin the AUD/USD shot upwards after the unemployment rate improved drastically last month. The numbers were in fact astounding, but now the pair faces a strong resistance level seen easiest on the Weekly chart below.
The XAU/USD pair is testing its moving average at 20 sessions. Get the details here with this free Forex signal.