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
Yesterday was a very unexpected day for the EUR/USD. I was not even ready for it. It took me way off guard. This pair is barely moving 6 pips in a 4 hour period and less than 50 pips a day on the average this past week then all of a sudden it tanks 168 pips.
Yesterdays high impact move in the direction of USD strength pushed the Swissy above the 50.0 fib threshold on the weekly timeframe. I would love to see another up day and would love to see a weekly candle close above that 50.0 fib above .9400
Yesterday was a very action packed day for the market considering the lack of volatility the market has been displaying during this holiday week. I am not necessarily referring to the EUR/GBP since for this pair it was just a slightly below average day.
The week between Christmas and New Years is without a doubt one of the quietest in the Forex markets. The fact is that the majority of traders are gone for both holidays as well as Hanukkah. With so many people away from their terminals, the major firms are being staffed by junior traders that simply do not have the authority to place new trades in the same ways that the senior ones are.
One trader turned today's Forex technical analysis into profitable trades on a binary options platform.
Follow up on where the EUR/USD is headed in this analysis from an expert trader.
The GBP/USD was certainly the King of the Hill yesterday. When many of the major pairs only moved a fraction of their daily ranges the GBP/USD still made a 104 pip range, just a few pips below its average day.
The EUR/JPY didn't make much headway yesterday. The total range for yesterday was only 25 pips. On the weekly timeframe price is still below the weekly 5 ema and still has not made contact with it this week and I doubt it will this week since thee is no true driving force in the market this week.
Yesterday was not a very volatile day for this pair and I don't expect today will be either. sometimes, the winning trade is to not trade. I love to trade and I am always obsessed with finding a position, an entry position into the trend. But I like to trade on volatility.
What I am watching for the most with the Swissy is will daily price fall and close below .9310 This level seems to hold some importance and has managed to be both support and resistance.
The volatility for the EUR/GBBP picked up just a bit yesterday. The range was 42 pips. In my recent analysis for this pair a few days ago I pointed out that the weekly candle made touchdown with the mighty 233 ema as I had predicted previously and you can always be sure that when price hits touches the 233 ema on any timeframe there will almost always be a reactionary bounce of some sort to some degree; barring news related events.
See how a trader turned today's Forex technical analysis into profitable trades on a binary options platform.
As with all the pairs I have analyzed there was very little price action and for a pair that averages 100 - 120 pips a day and even more at times this pair only did 29 pips but that's not so much due to lack of volatility as it was a Bank Holiday pretty much throughout most of the world.
The GBPUSD had an interesting day yesterday strange enough. Considering Christmas and the fact that yesterday was a Bank Holiday I really didn't expect too much movement for this pair yesterday as there was very little moment amongst several other pairs and any movement was purely incidental, the GBP/USD still managed to move 62 pips and the GBP/CHF moved 67 pips.
In my analysis for the Swissy I was bullish, so naturally for the EUR/USD I am bearish. Of course, for this pair to fall down it will have to rise a bit more.