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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Following a large sell off last week, the AUD-USD has been gaining ground over last few days.
There is no question that the EUR-JPY is in a downtrend, but just how strong is it?
There is still no heavy news releases today to aid the technicals' machinations to send the EUR/USD pair up.
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The recent daily chart of the GBP/CAD shows a prolonged downtrend. Since early March, though, the trend has flattened, with the price forming a wide trading range.
Many market participants look at the AUD-CAD pair for clues about the general strength, or weakness, of either one of these currencies. The premise is, that if the AUD-CAD is bearish, than all other crosses of the Australian Dollar will follow. The opposite is true in a bullish scenario.
The dive the Dollar took the Euro along for the ride on, is unlikely to end. The bit of witchcraft that I choose today in assessing the USD's assent is the strong trend.
Divergence is a very popular concept in the field of technical analysis
Over the last few days, the GBP-USD pair advanced about 400 pips. Many voices are being raised about a longer-term reversal taking place here.
Bollinger Bands below their centerline, Full Stochastics below far their centerline, RSI far below their centerline, only the volatile StochRSI is above it's centerline.
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Monday was a holiday in the U.S.A., which resulted in a relatively inactive Forex market. Most of the currencies had much smaller daily trading ranges on a very light volume.
The EUR-CHF pair has been making news lately. The most obvious reason is the market preoccupation with the Euro and its fall from glory.
No forecastable heavy news for the EUR/USD, means we can look to price action and technical indicators, to learn where this pair will turn today.
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Sign up to get the latest market updates and free signals directly to your inbox.It would seem that the AUD-USD pair stopped the free-fall, which took it from 0.9400 to under 0.8100.
No matter what the Bollinger Bands, Full Stochastics, StochRSI and RSI might tell the EUR/USD to do, the trend and both big forecasts clearly have a downward direction in mind for the 27th.
After reaching a high of 0.9800 in late 2008, the EUR-GBP cross has been in a slow, but steady downtrend.