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.
The USD/JPY pair fell during the majority of the session on Monday, but as you can see formed enough support in order to bounce high enough and form a nice-looking hammer. This hammer is focused on the 103 level, which of course is a large, round, psychologically significant number.
The EUR/USD pair try to rally during the session on Monday, but as you can see the 1.38 level has offered resistance yet again.
The USD/CAD pair spent the majority of the session on Monday following, but bounced hard enough to form a hammer. This hammer is just below the 1.06 handle, so therefore it has the look of a market that is trying to find the bottom of the recent consolidation area.
The EUR/JPY pair fell during the bulk of the session on Monday, but bounced hard enough off of the 141 level in order to form a hammer. This hammer signifies what I have suspected all along, that the uptrend is about to continue in this pair.
Check out the Forex signal for the USD/JPY pair here.
Check out the Forex signal for the EUR/USD pair here.
Check out the free Forex signal for the GBP/USD pair here.
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The EUR has gained strength for the fifth consecutive week reaching 1.3811, an all time high in the last 6 weeks. The pair ended the week with a slight decline; closing at 1.3736.
The XAU/USD pair ended the week higher after the Friday's slightly bullish price action. The pair had tried to rally on Tuesday but heavy resistance around the 1268 level stopped the bulls' advance.
The WTI Crude Oil markets fell during the majority of the session on Friday, challenging the $96.40 level. I still believe that this market goes higher eventually, but the $95.50 level will offer as a magnet to price, and a supportive area.
The EUR/USD pair fell during the bulk of the Friday session, but as you can see we bounced off of the 1.37 level, showing that there is in fact an underlying bid to this market. That being said, I think that this market could still drift a little lower, simply based upon the weekly chart, which of course formed a shooting star.
The USD/JPY pair tried to rally during the session on Friday, but as you can see failed right around the 103.80 level. The pullback formed a bit of the shooting star, but I don't see this is a market that you can sell.
The AUD/USD pair rose during the session on Friday, as you can see, but at the end of the day we are still well below the 0.90 handle.
Learn where some of the major Forex pairs are headed with this weekly forecast here.
