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 strength and determination of those that had the money to create yesterday's move will cause the EUR/USD pair to end lower.
Despite the negative economic announcements, the Japanese Yen continues to outperform other counterparts.
No notable news is available to direct the EUR/USD pair today, so it will likely continue on it's way up.
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Recently the Japanese Yen has had few days of gains. Likewise, the British Pound had a decent rally. Combination of these two currencies getting stronger created very erratic moves in their cross, the GBP/JPY.
During the last few days, the Japanese Yen made strong gains against most other currencies, including the high flying “commodity dollars”.
The question is: How Low Can We Go? Well, the Japanese Yen is gaining strength amid weaker US Dollar and comments by Japanese officials.
On the daily EUR/CHF chart we see the price formed a possible reversal candlestick formation – the hammer. It is important after a prolonged down trend and it carries bullish implications.
Through out the New York Session, we expect the Pound to continue to head lower as long as New Home Sales and Federal Reserve do not ruin the parade.
Recent price action in the CAD/JPY pairs ran into a very strong resistance. The 9.000 level seems to be holding steady, in spite of multiple advances there.
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There is a solid set-up brewing for USD/JPY to the upside. This type of trade generally manifests itself over a couple of days and takes time to proliferate.
Britain's emergency budget allowed the Pound to stay away from a complete reversal in trend to the downside.
Each technical indicator on the daily chart still has left room for the EUR/USD to fall a bit further.
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Sign up to get the latest market updates and free signals directly to your inbox.Giving a boost by the Chinese Yuan revaluation, EUR/USD continue to perform relatively well.
Bollinger Bands, Full Stochastics, StochRSI and RSI in unison with price action are ready for the EUR/USD pair to have closed down from where it is now in twenty-four hours.
The EUR/USD pair is in an intermediate term bullish trend, with no sign of reversing.