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 WTI contract had a fairly bullish session on Tuesday as the momentum to the upside continued in this market. There a lot of different reasons why this market may be gaining, and as a result this makes a fairly bullish environment in which to start trading.
The XAU/USD pair (Gold vs. the American dollar) bounced off of the 1640 support level and formed a hammer yesterday. The pair closed the day higher after three consecutive days of losses as the American dollar lost strength against most of its major counterparts.
The EUR/USD pair initially fell during the session on Tuesday, but found support at the 1.3350 area in order to bounce and turn the market around showing significant support and momentum higher. The candle is kind of a strange shape; almost hammer like, but at the end of the day we still find the 1.35 level above offering resistance.
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The EUR/GBP pair initially surged during the Tuesday session, but found the 0.86 level as being far too resistive to overcome. Because of this, we saw significant pullback and a shooting star form that was essentially perfect and its shape.
The GBP/USD pair had a rough session on Tuesday initially as it fell below the 1.56 area and almost managed to reach the 1.5550 level. However, it had a significant bounce later in the day to form what essentially looks like a perfect hammer, and as a result it looks like there may be a bounce coming.
Gold (XAU/USD) formed a daily pin bar on the support level at 1648 yesterday. The pair has staged reversals from this level several times over the past 12-14 months as well as farther back in time.
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The WTI crude market had a very bullish session on Monday after initially falling. The market found support at the $95.00 level again, and as we have recently; found this market to be willing to buy the contract out of those levels.
The XAU/USD pair has managed to break and close below the middle line (1652) of a massive consolidation range (roughly between 1525 and 1795) that the pair has been locked in for over 70 weeks.
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The GBP/CHF, after bouncing from 1.4180 trading in a descending channel since July 22 when it reached the high for 2012 at 1.5479. Being the high for 2012, we have since been falling with pretty straight forward pull backs and have formed a descending channel as a result that has continued into 2013.
The EUR/USD pair sold bit of a bounce from the lows of last week on Monday. The candle isn't necessarily impressive, but it does suggest that the market is trying to find a little bit of a floor at this point.
The USD/CAD pair has been a real pain lately. It seems to want to just jump around randomly, and it certainly isn't following what's going on in the oil markets. Quite to the contrary, the Canadian dollar has been getting beaten up while oil continues to rise.
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Sign up to get the latest market updates and free signals directly to your inbox.The NZD/USD pair is one of my favorite pairs to trade. One of the main reasons of course is the fact that it not only follows commodities, but it is also one of the least liquid of the major markets.
According to the analysis of the USD/CAD and GBP/USD trader profited on a binary options platform.
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