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 pair known as the Aussie/Kiwi appears to be setting up to break higher. A series of lower highs and higher lows on the daily charts is hinting at a break out favouring the bulls.
As of yesterday, this pair took off and broke out of the price channel it has been trapped in since the summer to the upside.
The Swissy made a vast drop yesterday. There were a lot of big moves yesterday and usually after a big move consolidation follows.
Yesterdays bullish move for this pair, as intense as it was, now leaves price up against a layer of resistance. I look at the daily chart from two perspectives.
After yesterdays steep move up, I do expect a retracement. On the daily chart we totally broke above the trend line.
Starting my analysis today on the daily chart it is clear that price has precisely reached the 61.8 fib overlapped with the lower trend line of the price channel price had previously been trapped within.
The AUD/CAD pair has finally broken out of the zone between 1.00 and 1.05527 that it has been trading in since April 2011.
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The EUR/GBP is definitely in a bullish state since yesterday. Taking a quick peak at the weekly chart it is evident that this pair had breached, retested and is now heading up and out of the price trap I had it in.
I will start my analysis for this pair today with the weekly chart. Price fibbed recently just shy of the 50.0 and now is coming into contact with the 13 and 21 ema's and I would like to point out that the 13 is crossing above the 21.
Starting out with the daily chart for this pair it is clear that we have broken out of the descending trend line we were under and price has already broken through the 233 ema and is poking through the 144 ema.
This pair is caught inside of a price trap in my hourly chart. It has been in a consolidation range for the last week or so trying to make up its mind and I think it is getting close.
Starting off with the daily chart it is obvious price is riding the 5 ema up and this pair has been looking quite bullish and has breached the daily 144 ema.
The AUD/USD or 'Pacific Peso' as it is known to some, is approaching a critical resistance level.
Based on Doug’s analysis of the EUR/USD, The EUR continues to remain bullish which creates an investment opportunity in the following positions: “High” or “Above”, “Touch” or “No Touch Down” on the EUR/USD