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 EUR/USD finished the week near the 1.08316 ratio, essentially returning to value the currency pair traversed on Wednesday, this as nervous financial institutions wait for the risk events that are coming.
WTI Crude Oil finished below the 70.000 USD per barrel price as the weekend approached, setting up a challenging week ahead for traders as fundamentals and behavioral sentiment are certain to collide.
USD/CAD: During the early hours on Thursday, we did see a little bit of a pullback, only to turn around and show signs of strength again in the US dollar against the Canadian dollar currency pair.
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USD/RUB: During the early hours on Thursday, we saw the US dollar rally and reach towards the 97.5 level only to turn around and show signs of weakness.
The British pound has plummeted against the Swiss Franc during trading on Thursday as we have seen a major risk off type of move.
The German DAX fell during the trading session on Thursday, but it does look like it is trying to hang on to a certain amount of support.
The CAC 40 fell a bit during the trading session on Thursday as we have crashed into the 7,300 euro level only to turn around and bounce.
During my daily analysis of the USD/CHF pair, I recognize that this is a market that has been going sideways over the last couple of weeks, and at this point in time I think we have got a situation where the market is trying to determine the next move.
In my daily analysis of the Australian dollar against the Japanese yen, the market has seen a bit of a selloff previously, only to turn around and show signs of life.
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The US dollar continues to go back and forth during the course of the trading session on Thursday, as we continue to see a lot of noisy behavior in this market.
In my daily analysis of the gold market, the first thing I see is that we are in fact starting a pullback. This does make a certain amount of sense, considering that we had gotten a little bit ahead of ourselves over the last week or so.
In my daily analysis of the AUD/USD pair, it’s worth noting that we continue to hang around the same support level that we have been watching closely for some time.
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Traders who seek volatility as a speculative opportunity may find the early part of November extremely attractive, those who want tranquil price values may want to look the other way.
The West Texas Intermediate Crude Oil market has been noisy and negative during the month of October, but as I write this monthly analysis, it’s worth noting that we are sitting just above a significant support level.
Without a doubt, the gold market has been one of the big winners over the last couple of months, and of course November could very well see more of the same.