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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Starting out with the weekly chart bullish conditions exist. The stochastic is crossing it's way out of the oversold zone and price is trying to catch a ride on the 5 ema.
If we take a technical look at the Weekly chart GBP/USD using Ichimoku averages, we still notice a negative bias expecting a drop in the trend due to the following reasons:
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The EUR/GBP ends the week with a bearish tone. It had appeared to me that it could break out of its range to the upside.
Starting out with the weekly chart for this pair it appears price is bouncing off the 233 ema it landed on earlier this week and may go up.
The Swissy looks like it is dropping further today. Looking at the weekly chart it is clear that price is steadily falling from the near 50.0 fib level it has recently made and is now falling below the 38.2 fib level.
Looking at the daily chart for the EUR/JPY it is obvious price has been riding on the 13 and 21 ema's.
Starting off with the weekly chart it appears that the GBP has picked up strength and the stochastic is in the overbought zone trying to cross up.
Normally, my analysis for the EUR/GBP entails analysis of the EUR/CHF and GBP/CHF. Today however, I don't see it necessary to even look at those two pairs.
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Looking at the weekly chart it appears we are heading back up. Last week we dropped from nearly the 50.0 Fib level back down to the 38.2 and now we are back on the rise.
GBP/USD pair bounced off the daily 55 yesterday and has fallen and bounced a bit off the daily 21 and 13 ema's.
the USD/JPY is very range bound so I expectt he same rules for the EUR/USD will apply to the EUR/JPY.
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Sign up to get the latest market updates and free signals directly to your inbox.Price has fallen down to the 21 and 13 ema's, however, the USD has recently picked up strength and the stochastic is in the overbought zone.
A drop of a motive wave with a bounce of flat correction. We are here at motive wave C after wave A and B folded.
The EUR/USD pair made some bullish movement in yesterdays trading, but could not hold off the bears.