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 has rallied a bit during the trading session on Monday but continues to struggle above the 1.06 level in what can only be described as somewhat lackluster trading.
Gold markets have pulled back a bit from the previous trading, as we had broken out of a rising wedge.
India continues to be one of the better performers that I watched, as the Nifty 50 has bounced from the 50-Day EMA.
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The West Texas Intermediate Crude Oil market initially rallied during the trading session on Monday but gave back early gains as we continue to see a lot of negativities out there when it comes to energy markets overall.
My previous signal on 15th December was not triggered as there was no bullish price action when any of the support levels were first reached.
Throughout last week’s trading, the price of the euro currency pair against the US dollar, EUR/USD, was in an upward trend range.
The TRY/USD maintained its stability with the opening of weekly trading.
Strong and continuous fluctuation was prominent for GBP/USD currency pair trading during last week as the currency pair moved in a range
Spot natural gas prices (CFDS ON NATURAL GAS) fell in early trading on Monday, recording sharp daily losses until the moment of writing this report, by -5.30%.
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The Dow Jones Industrial Average continued to decline during its recent trading on intraday levels, to record losses for the third consecutive day in trading on Friday, by -0.85%, or the equivalent of -281.76 points.
The strong decline in the price of the US dollar during last week’s trading had the strongest and most important impact on the gold bulls
The USD/CAD is near the 1.36400 juncture as of this writing, this morning’s high was near 1.36800 but Friday’s high traversed over the 1.37000 ratios.
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In the last two trading sessions for the past week, the price of the USD/JPY currency pair moved amid attempts to bounce back with gains towards the level of 138.17.
The USD/JPY continues to flirt with lower values but has also suffered from reversals upwards which makes its lower trajectory potentially attractive to speculators.
The USD/CHF has rallied a bit during the trading session on Friday, as it looks like we are trying to form some type of falling wedge, which can be a bullish pattern.