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.
Forex Technical Analysis
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Forex Technical Analysis
The GBP/USD is quite a distance from its 5 ema and up against the lower Bollinger Band on the Weekly chart, as well as about 40 pips away from the Daily 5 ema, with Stochastics in the over sold zone.
The Euro fell close to 500 pips against the U.S. Dollar late last week, extending a sell-off that has taken the currency pair from 1.4500 at the end of August down to an intraday low at Friday’s close by 1.3653. European sovereign debt troubles have long plagued the currency but investors have turned a blind eye to the fiscal troubles purely due to the hawkishness of the European Central Bank.
Here we have a daily chart of the Kiwi that shows price action finding some support at about 0.8175. This is no surprise with the previously established daily support of 0.8150 which held on August 19/20.
USD/CAD signal based upon Elliott Wave principles. Find your entrance and stop loss here.
The EUR/GBP approaches the end of the week bouncing off last month's low. It is also bouncing off the Weekly S2 Reversal Pivot as well as the Daily S1.
Friday has left us with a bearish EUR/JPY sitting on the Monthly S1 Pivot, the Weekly M1 Pivot and we just poked yesterdays low.
This pair looks a bit iffy to me. It is bouncing off the Daily 21 ema as well as the Weekly M1 and just bounced off the Daily S2 Reversal Pivot.
The EUR/USD begins its NY session bouncing off the Weekly 144 ema. Lower Bollingers are pointing down on the weekly, 5 ema is crossing below the other ema's, Stochastics is crossing down.
This pair appears to be in the beginning of a breakout if watching it on a Weekly chart. It has busted and retested the weekly Trend line.
The EUR/GBP pair has been stuck in a range roughly between 0.8650 and 0.8850 since the middle of July and has come close to breaking out of its box a half dozen times. But today we have what I think is the best chance yet with a 150 pip bearish engulfing candle formed off of resistance at 0.8800.
Open USD/CAD signal based on Elliott Waves principle. Enter the market now!
Today the EUR/USD looks very similar to how it looked yesterday. the price is just above what has been a very strong line of support at the very powerful psychological level of 1.4.
GBP/USD still has a very bearish appearance to me. Speed and momentum appear to be very strong to the downside.
EUR/GBP continues to look very bullish to me. Price continues to make higher highs and higher lows, shorter term ema's are crossing through
Taking a look at EUR/JPY pair we are obviously in a period of consolidation and we continue to be range bound.