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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Divergence is a very popular concept in the field of technical analysis
Over the last few days, the GBP-USD pair advanced about 400 pips. Many voices are being raised about a longer-term reversal taking place here.
Bollinger Bands below their centerline, Full Stochastics below far their centerline, RSI far below their centerline, only the volatile StochRSI is above it's centerline.
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Monday was a holiday in the U.S.A., which resulted in a relatively inactive Forex market. Most of the currencies had much smaller daily trading ranges on a very light volume.
The EUR-CHF pair has been making news lately. The most obvious reason is the market preoccupation with the Euro and its fall from glory.
No forecastable heavy news for the EUR/USD, means we can look to price action and technical indicators, to learn where this pair will turn today.
It would seem that the AUD-USD pair stopped the free-fall, which took it from 0.9400 to under 0.8100.
No matter what the Bollinger Bands, Full Stochastics, StochRSI and RSI might tell the EUR/USD to do, the trend and both big forecasts clearly have a downward direction in mind for the 27th.
After reaching a high of 0.9800 in late 2008, the EUR-GBP cross has been in a slow, but steady downtrend.
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Both the Australian Dollar and the New Zealand have been under market pressure for some time. Most analysts connect it to the Euro crisis and the anticipated global economic slowdown.
With two news items with outcomes forecast to counteract each other, price action, trend and technicals must be turned to
The recent rebound in the GBP-NZD pair stalled over the last few days. This pair had been in a seeming free-fall for weeks and even months.
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Thursday (20 May) produced an interesting opportunity on Cable (GBP/USD) that tied in to my analysis from my last post.
Those with the power to push this pair have seen fit to move it down at this week's open.