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 Euro reached the low point against the Dollar on March 4th with a price at 1.2456. Since that date the pair has had a strong bull run moving all the way to 1.3072.
EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3292 and 1.4721.
Technical: The Dollar is set to be the dominant currency in the forex market this week, as the banking crisis returns to the forefront. The banking share slump and the bullish Oil prices may hurt the Dollar this week, as traders bet against the greenback.
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EURUSD resistance and support remains at the same positions, and none of them were broken yet. In this situation candles are heading towards resistance line at 1.4111, and if it is broken, a positive trend can start.
Gold rose slightly on Thursday as a retreat in the U.S. dollar helped to tempt back some buyers.