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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On Friday Euro/Dollar broke the key resistance of the rising channel at 1.3500, climbed with over 300 pips, and closed the week at 1.3635.
EUR/USD (a daily chart of which is shown) made a major bullish statement on Friday of this past week after consolidating aimlessly for the first part of the week.
EURUSD is forming a sideways consolidation in a range between 1.3191 and 1.3436. Further rally is expected to 1.3500 zone after consolidation.
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Euro/Dollar was moving neutrally yesterday, climbing insignificantly from the bottom 1.3248 to the top 1.3370, closing the day at 1.3332.
Euro/Dollar failed to break the key resistance 1.3432 yesterday, and corrected downwards, closing at 1.3324, and dropping down to 1.3245 this morning.
Euro/Dollar failed to break the key support 1.3218 yesterday, and renewed its upward trend, climbing back up to 1.3437.
On Friday Euro/Dollar continued its upward movement. The currency couple made a top at 1.3317 and closed the week at 1.3265.
USDJPY remains in short term uptrend from 95.62 and is testing 99.74 resistance, above this level will signal further rally to 100.00-100.50 area. Initial support is at 98.90 followed by 98.50.
Euro/Dollar had an increasing momentum yesterday. The currency couple attempted to drop to the bottom 1.3121, but further decreasing scenario was rejected and the Euro rose sharply, reaching a peak at 1.3337, climbing over 200 pips, and closed at 1.3271.
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In April Euro/Dollar consolidated, but developing growth above the line of the descending trend could not be achieved.
EUR/USD (a daily chart of which is shown) displayed some significant bullishness in the past week that extended all the way up to around the key 1.3300 resistance level before retreating this past Friday.
On Friday Euro/Dollar had a strong upward adjustment. The currency couple broke up the key resistance 1.3265, reached a top of 1.3297 and closed at 1.3239.
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Sign up to get the latest market updates and free signals directly to your inbox.EURUSD rebounds from 1.2884, suggesting that a cycle is being formed on daily chart. Further rise is expected to test 1.3392 key resistance next week...
AUDUSD might be forming a short term cycle bottom at 0.6952 level on 4-hour chart. Range trading between 0.6952 and 0.7180 is expected in a couple of days.
Yesterday Euro/Dollar attempted to make an upward correction to the 1.3033 top, but closed lower at 1.3004.