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 weekly candle opens just below the 5 ema and not quite touching it but very close. Price seems to have been rejected at this zone and has been falling ever since.
The AUD/USD daily chart is indicating that we could see prices pushing higher this week. After last week's strong bullish move from 0.9943 to 1.0380 we have pulled back to a major support zone at 1.0152 and even traded as low as 1.004 (just short of the 50% retracement level at 1.002) before closing above the zone on Friday at 1.0217.
Take a look at where the major currencies should be heading this week, and plan your weekly Forex trading strategy smartly.
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This week has been a very bearish week for the EUR/JPY. On the weekly time frame price continues to ride the 5 ema to the downside and there is much angle and separation between the 5 and 13 ema's indicating strong downside momentum for this pair.
The GBP/USD begin its day today just below the daily 5 ema. For the past couple weeks this pair has been caught in a range between 1.5570 - 1.5776 On the 4 hour time frame price has been riding the 5 ema down and recently the 5 ema has crossed below the 13, 21 and 55 ema's.
Today price opens up just below the daily 5 ema. Price touched the 5 then dropped. Price opened up outside of the triangle trap price had been previously trapped in.
In yesterday's analysis I had forecasted that there was a lot of support in various forms at around.8518 and more than likely price would reach that level and bounce. Well I was slightly off, price went beyond .8518 and all the way down to .8495 then it made its bounce and went straight up and closed at .8533
Yesterday price managed to stay above the 5 ema but I must say this pair has been stuck in the same range for a couple weeks and doesn't appear to want to trend up or down.
The USD/CAD has reacted off of the weekly support zone at 1.0093 with bullish tendencies and is now attempting to push higher. At time of writing, (about 1pm Tokyo time), we see the loonie pushing as high as 1.0257 and appears to be trying to keep the bullish momentum from the USA session going.
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The GBP/USD kicks off the new trading day just above the daily 21 ema with a 5 ema trying to cross above the 13 ema and a daily stochastic pointing up, however, price is also caught in a fib zone to the downside and price is right in the 38.2 fib level of the last move down.
Currency: USD/CHF Trend Expected Direction: Choppy Strategy: Elliott Waves and Fibonacci Trading.
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The EUR/USD begins its day just below the 13 ema. For the last couple days the EUR/USD keeps printing a Doji candle. I am long term bearish for this pair bit on the short terms it has been a little unpredictable.
The Swissy still maintains its position above the 5 ema on the daily time frame for yet another day. The Swissy seems to be building strength.