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.
Most Recent
Price action has allowed the unceasing domination in recent weeks of the USD. The Dollar's strength will continue for at least one more day due to the strong news release below.
AUDUSD currency pair did manage to break resistancel evel at 0.8715, however trend line stays valid and not broken. At the moment buying options should be done with a care.
Narrow trading range is formed for now, however bulls are looking forward to test resistance barrier. Above resistance, look for short term upswings.
Top Forex Brokers
The EUR/USD's decline on the daily chart, has helped the Dollar half of the pair gain strength. This is despite each of the four technicals this daily chart enjoys, pleading, as they are dragged across the bottom of their windows, for upward movement.
The pair came within ticks of our 3rd channel extension target at 1.3570 Friday (dark purple), providing more confirmation that the dominant cycle is the angled one rather than the flat (black).
Negative trend is extended further downside, however concentration is formed by current support barrier at 1.3630 while resistance level holds at 1.4037. Wide trading range is created, however at the moment look for selling options just below support level. Breakout confirmation of support barrier is needed to continue bearish movement.
Negative trend is extended further downside, however concentration is formed by current support barrier at 1.3630 while resistance level holds at 1.4037. Wide trading range is created, however at the moment look for selling options just below support level. Breakout confirmation of support barrier is needed to continue bearish movement.
Price action for the EUR/USD on it's daily chart, has defied the requests of each of the four indicators on it, for any excuse for upward movement. With no hard hitting news releases for this pair today, it is likely to be range bound or to continue the downtrend for February the 8th.
The downward dance for the EUR/USD, will continue to flow as this pair moves forward with today's news forecasts. The forecasts will favor the USD as will the trend, your friend. Though the Bollinger bands, Full Stochastics, StochRSI and RSI are screaming for a retracement, the strong trend and news forecast for today should offer a strong hint at isolating any trades to shorts.
Bonuses & Promotions
Technicals will be taken down again by the good news for the dollar on the 4th. Bollinger Bands, Full Stochastics, StochRSI and RSI are each in their windows and all low. Price action has showed the EUR/USD pair is stable around the 1.3900 level. That show of stability will help future movement downward.
Bulls did manage finally to break trend line, however below 1.4048 price level bears are still in good shape. Despite this bulls attempt to climb higher, bears are controlling the current situation. Look for selling possibilities below this barrier, but it should be done with a care for now.
The EUR/USD's daily chart shows a lapse in the dollar's recent rise to power. This will likely be corrected by the two high powered news items that are released on the 3rd.
Subscribe
Sign up to get the latest market updates and free signals directly to your inbox.Negative trend remains strongly active. However, according to recent bulls attempt, they showed first signs of recovery. At the moment waiting action is better option in order to confirm bulls strength. If a trend line is broken, bulls have a chance to slide above 1.4048 price level.
As mentioned Sunday, EUR/USD tested our LT targets at 1.3852 and has held there for now. The next resistance level should be at 1.3988, with a ST cycle completion target of around 1.4115. ST support should be at 1.3938 and 1.3911.
Ex-support 1.4048 and ex-resistance 1.4409 levels hold at the same places. Strong negative trend remains for this pair, at the moment short term upswings are expected. However, while downtrend holds, look for selling possibilities, but it should be done with a care for now.