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
The Canadian Dollar from a technical standpoint is giving every indication it is going to breakout. Price has been consolidating for several weeks. You can see more clearly the consolidation in the Chart below depicted by the orange triangle
Wrapped around their bottom lines the Bollinger Bands, Full Stochastics, StochRSI and RSI on the daily chart are screaming for a more significant retracement. Price action shows support at each week's close going down for the EUR/USD pair, so the climb back up will likely be a long one.
The hard hitting news items of the day for the EUR/USD pair counteract each other so we must see what the Bollinger Bands, Full Stochastics, StochRSI and RSI have to say. Each is far below their centerline or touching it. This shows a readiness for the pair to have a overdue retracement on the daily chart these indicators are attached to.
Top Forex Brokers
EURUSD bears remain in a control of current situation. Despite the recent bulls attempt to climb above ex-support level at 1.4681, bears are in good shape. At the moment selling options are better to look for below ex-support barrier.
Bollinger Bands, Full Stochastics, StochRSI and RSI when attached to the daily chart, all want the EUR/USD pair to rise up from it's 2 month low region. Price action shows some resistance around 1.4600, a nice round number, which often has a strong psychological effect of delaying a pair's passing threw or not allowing it to pass.
The EUR is perilously close to falling into a tailspin. We have been stating for some time that a candle appearing below the 50 day Moving Average (MA) would generate a strong signal for a Short entry. As you can see in the Graph below that signal occurred last week, with the 50 day MA currently holding at 1.4880 while the EUR is trading at 1.46.
Price action of the last four days has had higher lows, this pair is moving up. Bollinger Bands, Full Stochastics, StochRSI and RSI when put to the daily chart for the EUR/USD all are ready to lift it up.
EURUSD-Although currency price doesn't change for some time, the situation is bearish because trend is still negative. So it's quite difficult for the bulls to go into the market. Wait for a better option to go into the market.
The four technicals on this EUR/USD daily chart are far enough from their centerline to foretell a imminent retracement, within the next week. Bollinger Bands, Full Stochastics and StochRSI have bottomed out and if the retracement has not happened by then the RSI will be at the bottom with them as well. Price action shows a support level at 1.750, I would keep any trades made, long.
Bonuses & Promotions
What do the technicals say today? Bollinger Bands, Full Stochastics, StochRSI and RSI all are in agreement that the EUR/USD is oversold and is ready for a bounce off of the bottom Bollinger Band moving average. Straying far from their centerlines, all in the same direction, they are due for a run back home to safety, in this case, up. Price action, I think is clear, upward.
The Greenback continues to rally and we are approaching pivotal handles across the G-10. The GBP has been range bound since the end of May, so much so, that it is the worst performing currency against the Dollar amongst the G-10 since May 25th. Currently the 100 day MA is sitting above the 50 day MA which is indicative of a falling price environment.
EURUSD negativeness for this pair is getting stronger, below support level bears are in better shape. According to previous bearish moves, support level stood as significant barrier
Subscribe
Sign up to get the latest market updates and free signals directly to your inbox.We are not suggesting the Dollar bulls are running wild, however, every rally in hindsight has a defining moment. Every trader on the street is aware that when the Dollar bulls get set free they are going to come charging. Even if you are a skeptic to the end just the mere massive unwinding of the carry trade would rocket the Greenback.
Bollinger Bands, Full Stochastics, StochRSI and RSI far below their centerlines, the EUR/USD is ready to ascend. With the StochRSI far below it's center line, it is ready to pop the RSI up and as a result, in a vacuum, the EUR/USD.
EURUSD after consolidation between previous support at 1.5034 and resistance 1.5135, new barriers were created. Support level at 1.4840 stands as a significant level for bears and bulls, this barrier holds bears side from further falling. At the moment a rebound back to resistance level at 1.4975 is possible.