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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Measuring velocity can be difficult. The accuracy of the measurement is often dependent on what is being measured. Charts as we all know are subject to manual manipulation. This means that altering the view from a minute chart to a daily chart, or increasing or decreasing the time horizon will make the chart appear differently. In the graphs below, one side is a 3yr tenor and the other a 1yr tenor. Compare how vastly different the current time period presents itself between the 2 graphs.
London and Canada are taking the day off, so liquidity and spreads might not be the same for many brokers, be careful when entering a trade. No hard hitting news for the EUR/USD pair is released today also. Bollinger Bands, Full Stochastics and RSI are ready still for a move upward.
Most analysts were prepared for the EUR to go short once the EUR broke the 50 SMA, which had been holding support since April 2009. If you followed that advice you are doing great, except one issue. The EUR is 150 pips off its recent low. Did you miss the bottom or is this just a minor retrace?
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The EUR/USD's descent has stopped and the Bollinger Bands, Full Stochastics, StochRSI and RSI are starting to lift and show some comfort for the pair at the 1.4300 level. Price action still will allow for some lift and the indicators, all below their centerlines, are all more than willing to allow for a jump up in this pair.
Well hopefully you entered this Short EUR position when the candle appeared below the 50 day MA. If you did then you are ahead 600 pips. The next question is how do I know when to exit the trade and realize my PNL? This is a very important component of trading. Before you enter every trade you not only need to establish a stop loss but also a profit target and a contingency plan.
EURUSD after sharp movement downside near support level, bulls made a recovery progress. At the moment waiting option is better to take while low trading range will end up. Further bouncing is expected.
The Yen has been volatile at times this year and thus very difficult to trade with regularity. In recent days a number of technical indicators have been triggered to warrant a potential Short JPY position. The 50 day MA was breached last week, but due to volatility, that by itself is not a lone trigger.
The dollar again defies price action on the EUR/USD daily chart. Wrapped around it's 1.4350 support and defying the Bollinger Bands, Full Stochastics, StochRSI and RSI indicators, it seeks new strength against the Euro while waiting for the good existing home sales numbers forecast for the United States on the 22nd to gain even more.
Riding support at 1.4300, price action from the past couple weeks shows some desire to move upward. The Bollinger Bands, Full Stochastics, StochRSI and RSI on the EUR/USD pair are all as low as they can go. Each is begging to be pulled off the floor by the pair. Technical indicators are lagging however and will not tell with certainty when the next powerful retracement will happen.
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EURUSD negative trend is active. Concentration near support level is formed which can indicate a short term upswings. At the moment, waiting action is better to take with selling possibilities below trend line.
Gold has fallen 10.59% since reaching its all time trading high on December 3rd. There has been a long standing historical positive correlation between the change in the price of Gold and the Swiss Franc. Over the same period of time the Dollar has had its best rally in more than 9 months.
Technically the EUR/USD should clearly be going up. Bollinger Bands, Full Stochastics, StochRSI and RSI do not need any long interpretation to see that. Price action is also marching in lock step with these four technicals on the daily chart also. The sentiment and feelings of market movers around the globe is what moves the market though.
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Sign up to get the latest market updates and free signals directly to your inbox.EURUSD did form a low trading range between support and resistance, however bears once again did manage to breach out by support level. Further slide downside is expected, bears are controlling strongly the situation. At the moment negative trend is valid, but short term upswings are possible today.
Each indicator put to the EUR/USD's daily chart, the Bollinger Bands, Full Stochastics, StochRSI and RSI is wrapped around its bottom point and withering from lack of sunlight. The Bollinger Bands are wide open and that sign of volatility would allow a move upward to happen. Price action also would support a strong move upward with a long overdue retracement.
La coppia euro/dollaro ha formato un basso range di scambi tra il supporto e la resistenza, tuttavia, ancora una volta il movimento rialzista è riuscito a violare fuori dal livello di supporto.