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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As I am sure most of you are already aware, the EUR/USD pair dropped like a stone through our weekly support level today.
See how one trader profited based on today's technical analysis, and how you can too.
Due to a high volatility in the markets, especially in the EUR/USD, volatility sensitive instruments such as: “Touch”, “Touch Down” and “Out” are suitable for trading.
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The EUR/USD has plunged during the Wednesday session as fears of Italian debt problems continue to take the focus of the markets.
I will begin my analysis for the EUR/JPY starting out with the daily time frame and it is very obvious that this pair has been making a series of higher highs and higher lows and is on the move up.
Beginning my analysis for this pair I will begin with the daily time frame and I can see that yesterday's price did poke through the 61.8 fib level for this pair and price is still riding along the 5 ema with the upper Bollinger open and beginning to point up.
I will begin my analysis for EUR/GBP today with the daily chart. Yesterday the market opened away from the daily 5 ema and rose to it and nearly touched it.
I begin my analysis for the Swissy today with the daily time frame.
On the daily time frame I can see that yesterday this pair made a higher low and a slightly higher high and price seems to be rising from the recent fib it has made to the upside.
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The EUR/USD has been making higher lows for the past six trading days, and is up ever so slightly after opening the week at 1.38329.
The USD/CHF pair has been propelled by recent announcements out of the Swiss National Bank deploring the heightened value of its currency.
Currency: GBP/USD Trend Expected Direction: Down Strategy: Elliott Waves and Fibonacci Trading
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This pair still appears to be within a range even though it broke out of its price trap, revisited and fell just a bit. On the daily chart it is very obvious that price has been floating around in between the 50.0 and 61.8 fib zone.
The EUR/USD is looking bearish to me today. Beginning my analysis with a brief look at the weekly chart it is very obvious price has been in a downtrend.