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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Uncomfortable at the extreme lows relative to recent weeks, the EUR/USD has slowly been crawling up on the daily chart for five days. Bollinger Bands, Full Stochastics, StochRSI and RSI are still low and ready to help with the lifting work. The Existing Home Sales news release will add extra impetus at 10:00am est. The dollar seems to be on another death march.
EUR/USD corrected up to our 1.4183 level Friday, and subsequently pulled back to 1.4123. A further pullback is possible, but will likely hold the 1.4086 or 1.4066 support levels
EURUSD wide trading range is formed now between support and resistance barriers, trend remains negative. Even though bulls are trying to go for a reversal movement, bearish situation is strong enough to drag and decline price further downside. At the moment, waiting action is better to take while bulls calms down.
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No heavy hitting news releases today, forces the Bollinger Bands, Full Stochastics, StochRSI and RSI to determine the fate of the EUR/USD. In stoic, black and white terms, the Bollinger Bands want the price to go up, the Full Stochastics want the price to go up, the StochRSI wants the price to go up and the RSI wants the price to go up.
No heavy hitting news releases today, forces the Bollinger Bands, Full Stochastics, StochRSI and RSI to determine the fate of the EUR/USD. In stoic, black and white terms, the Bollinger Bands want the price to go up, the Full Stochastics want the price to go up, the StochRSI wants the price to go up and the RSI wants the price to go up.
No heavy hitting news releases today, forces the Bollinger Bands, Full Stochastics, StochRSI and RSI to determine the fate of the EUR/USD. In stoic, black and white terms, the Bollinger Bands want the price to go up, the Full Stochastics want the price to go up, the StochRSI wants the price to go up and the RSI wants the price to go up.
No heavy hitting news releases today, forces the Bollinger Bands, Full Stochastics, StochRSI and RSI to determine the fate of the EUR/USD. In stoic, black and white terms, the Bollinger Bands want the price to go up, the Full Stochastics want the price to go up, the StochRSI wants the price to go up and the RSI wants the price to go up.
It is January 20th, 2010 and the Dollar is back with a vengeance today. We have been keeping an eye on the Canadian dollar as it has been playing the technicals almost perfectly.
EURUSD below significant barrier at 1.4279 bears did initiate a negative trend by a sharp break. While candles remain below this level, look for selling possibilities. Bears are controlling the situation for now.
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Both heavy news items for the EUR/USD pair are forecast in different directions. So lets turn to the technicals for further insight into potential possibilities for profit from this pair.
The USDJPY has been the epitome of volatility over the last year. Much of that volatility arises from the Greenbacks recent (unofficial) appointment as the financing currency for the carry trade.
The Bollinger Bands are falling like a meteor and bringing the other three indicators with them. The Full Stochastic, StochRSI and RSI put to the daily EUR/USD chart are all aimed downward and are moving so sharply that way, they are unlikely to stop soon. Price action would dictate a retracement of course but this movement has rushed past the resistance and support levels many have put to their charts, it will stay around this level for a few more days at least.
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Each indicator window, Bollinger Band, Full Stochastic, StochRSI, RSI has it's indicator bound it the centerline. Price action has pinned this pair to the 1.4400 area. The Bollinger Bands, Full Stochastics and StochRSI have come down and might, threw a retracement bring the pair up a bit, with the RSI's help, because it has been under the centerline for a long time.
EURUSD,bears are controlling the situation below ex-support at 1.4466 price level. It looks like bears are heading towards another significant barrier at 1.4272. A breakout by this level, can initiate strong negative trend. For now, waiting action remains, possible formation of consolidation.