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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The EUR/JPY continues to maintain its bearish downtrend and is still riding the 5 ema down on the daily chart.
Looking at the EUR/GBP today the longer term charts such as the weekly do not tell me much so I will spend most of my time analyzing this pair on the shorter time frames.
In my EUR/USD Analysis I mentioned that the I see that the EUR has been stronger than the GBP. As strong as it is however, I cannot ignore the fact that it appears to be meeting up with tough resistance.
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Today, we are just a bit above the level we were at yesterday. We are also back within the Bollinger Bands and sitting above the lower band that I believe could give price a slight lift.
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The AUD/USD is maintaining bearish. It has pierced the weekly 55 and the weekly lower Bollinger Band is wide open giving price permission to head out. The Stochastics is in the Trade zone but making a bearish cross in the center of the trade zone.
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No ifs, ands or buts about it, the EUR/JPY maintains its heavy bearish appearance. I would not consider any longs with this pair. It may retrace a bit to connect with the daily 5 ema but I would just sit back and wait for that to happen. More than likely, price will stay put for a bot and just pull the 5 ema down to it.
Today we find ourselves with a bearish EUR/GBP. On the weekly chart the 13 is crossing below the 21 ema and the 5 is prepping to cross below the 55 ema. Lower Bollinger Band is open and pointing downward.
The GBP/USD continues to be bearish for the last several weeks and I don't see any reason for any of this to change.
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Sign up to get the latest market updates and free signals directly to your inbox.At this moment EUR/USD price is centered on the weekly 233 ema and on the very edge of the lower Bollinger Band. This can be either Bearish or Bullish.
While the news from the RBA wasn't great in the short term, it does look positive for the longer term and growth of the economy is looking good for the coming year.
The USD/CAD pair has been stuck in a range between the 0.98 handle and the parity level for several weeks now, and at the start of the week, it appears this trend will continue. Although the overall trend is down on the weekly and monthly charts, the pair simply cannot find any selling strength other than to hit the bottom of this range.