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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EURUSD bears did show their strength by sliding downside with sharp break of support level, despite this break bulls slowly, but have recovered the price.
Ever wondered why November brings the unexpected volatility every year? From a trader’s perspective moves could be very similar to Nov-Dec 08’ moves in financial markets especially FX markets.
A breakout did occur sharply by support level, this movement did influence bears to step further according to current movement downside.
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This pair did rebound by resistance level which initiated further downside movement.
The Kiwi declined the most against the Greenback last week, compared to the rest of the G-10. On October 28th the RBNZ kept rates on hold.
EURUSD negative trend stays active, despite the jumping back and forwards, this pair has more chances to slide downside.
The EUR/USD bounced off 1.4850 on Nov 2nd and as I write this is climbing back up from 1.4775. Bollinger Bands, Full Stochastics, StochRSI and RSI on a daily chart say a slow climb up is still to come.
Even though this pair did fall down, this movement didn't change current trend state. At the moment look for buying opportunities while support level is active.
Very sharp movements downside, bears are sliding downtrend towards support level. According to previous moves, bears couldn't manage to breakout by support level.
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This pair is trying to recover by jumping above support level, however this movement is not sharp and bears are still in control of situation.
The Pound has been range bound for some time. It is trading between 1.6650 and 1.61. Price action above or below those levels has lead to a number of false breakouts.
EURUSD resistance level is formed at lower level now, at 1.4856. This pair remains negative, selling actions are better to look into.
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Sign up to get the latest market updates and free signals directly to your inbox.By: Bradley C. Smith
The distance Bollinger Bands, Full Stochastics, StochRSI and RSI have strayed, tell me the EUR/USD is oversold on the daily and 3 hour charts.
Bears and bulls have calmed down and low trading range is formed for this pair at the moment.
No power at all, bulls and bears are sleeping by the support level.