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/USD pair had a back and forth session during the Friday trading hours, trying to break above the 1.3250 resistance level, and break below the 1.3150 handle that acted as support. In the end, the candle essentially went nowhere, and this makes sense considering that we have the Italian elections coming up.
The NZD/USD pair rose during the Friday session after printing a nice looking hammer on Thursday. I had mentioned that the 0.8350 level look like it was trying to offer support, and I do believe that the 0.83 level is the ultimate part of that support zone.
The GBP/USD pair rallied during the session on Friday, but gave back all of the gains once the pair got above the 1.53 level. The hammer that had printed on Thursday look like a pretty safe bet, but the fact that we couldn't gain on it’s really shows just how weak this pair is.
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The EUR/USD, while not quite as exciting as the GBP/USD as of late is trading rather predictably and there is something to be said for predictability when trading.
Some of the major Forex pairs did well last week and some did not. See what's in store for them for the coming week and plan your trades now.
Before you begin your weekend check out this free Forex signal for the EUR/USD pair.
The WTI Crude market fell again during the Thursday session, managing to close below the $93.00 handle. However, we are in the middle of a cluster in this general vicinity, so support would be expected. Nonetheless, I fully expect this market to continue lower, and eventually test the $90.00 handle.
The XAU/USD closed higher than opening as the weak data out of the U.S. weighed on the greenback. The pair initially fell to a 30-week low of 1555.04 before recovering to 1582.
The EUR/USD pair fell significantly during the Thursday session as the 1.3250 level finally gave way. The breakdown of course was significant, but we didn't stop the 1.3150 level, which I considered to be the bottom of the "zone" of support in this general vicinity.
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The GBP/USD pair fell during the session on Thursday, and even broke below the 1.52 level which was the launching area of the ascending triangle last summer that sent this market all the way up to the 1.63 handle.
The NZD/USD pair had an interesting session on Thursday as we went back and forth, only to finish up essentially unchanged. What's interesting is that we sold off so drastically during the Wednesday session that one would assume there would be some follow-through.
Curious about where your favorite USD pairs are headed? Find out here with this technical piece from DailyForex.com.
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Sign up to get the latest market updates and free signals directly to your inbox.The EUR/USD pair may be headed for bearish movement. Check out this Forex signal and see what's in store ahead.
The WTI crude oil market fell rapidly during the session on Wednesday after the markets took on a real "risk off" type of attitude. Adding fuel to the fire, the Federal Reserve released the minutes of its last FMOC meeting during the Wednesday session, which of course suggested that perhaps some of its asset purchases may be slow down in the future.
The XAU/USD pair fell sharply and traded as low as 1558.46 yesterday as the pair accelerated its decline after breaking below a critical support level of 1588 which was the bottom of the descending channel.