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
Browse by category
Forex Technical Analysis
EURUSD negative trend is active. Concentration near support level is formed which can indicate a short term upswings. At the moment, waiting action is better to take with selling possibilities below trend line.
Gold has fallen 10.59% since reaching its all time trading high on December 3rd. There has been a long standing historical positive correlation between the change in the price of Gold and the Swiss Franc. Over the same period of time the Dollar has had its best rally in more than 9 months.
Technically the EUR/USD should clearly be going up. Bollinger Bands, Full Stochastics, StochRSI and RSI do not need any long interpretation to see that. Price action is also marching in lock step with these four technicals on the daily chart also. The sentiment and feelings of market movers around the globe is what moves the market though.
EURUSD did form a low trading range between support and resistance, however bears once again did manage to breach out by support level. Further slide downside is expected, bears are controlling strongly the situation. At the moment negative trend is valid, but short term upswings are possible today.
Each indicator put to the EUR/USD's daily chart, the Bollinger Bands, Full Stochastics, StochRSI and RSI is wrapped around its bottom point and withering from lack of sunlight. The Bollinger Bands are wide open and that sign of volatility would allow a move upward to happen. Price action also would support a strong move upward with a long overdue retracement.
La coppia euro/dollaro ha formato un basso range di scambi tra il supporto e la resistenza, tuttavia, ancora una volta il movimento rialzista è riuscito a violare fuori dal livello di supporto.
The Canadian Dollar from a technical standpoint is giving every indication it is going to breakout. Price has been consolidating for several weeks. You can see more clearly the consolidation in the Chart below depicted by the orange triangle
Wrapped around their bottom lines the Bollinger Bands, Full Stochastics, StochRSI and RSI on the daily chart are screaming for a more significant retracement. Price action shows support at each week's close going down for the EUR/USD pair, so the climb back up will likely be a long one.
The hard hitting news items of the day for the EUR/USD pair counteract each other so we must see what the Bollinger Bands, Full Stochastics, StochRSI and RSI have to say. Each is far below their centerline or touching it. This shows a readiness for the pair to have a overdue retracement on the daily chart these indicators are attached to.
EURUSD bears remain in a control of current situation. Despite the recent bulls attempt to climb above ex-support level at 1.4681, bears are in good shape. At the moment selling options are better to look for below ex-support barrier.
Bollinger Bands, Full Stochastics, StochRSI and RSI when attached to the daily chart, all want the EUR/USD pair to rise up from it's 2 month low region. Price action shows some resistance around 1.4600, a nice round number, which often has a strong psychological effect of delaying a pair's passing threw or not allowing it to pass.
The EUR is perilously close to falling into a tailspin. We have been stating for some time that a candle appearing below the 50 day Moving Average (MA) would generate a strong signal for a Short entry. As you can see in the Graph below that signal occurred last week, with the 50 day MA currently holding at 1.4880 while the EUR is trading at 1.46.
Price action of the last four days has had higher lows, this pair is moving up. Bollinger Bands, Full Stochastics, StochRSI and RSI when put to the daily chart for the EUR/USD all are ready to lift it up.
EURUSD-Although currency price doesn't change for some time, the situation is bearish because trend is still negative. So it's quite difficult for the bulls to go into the market. Wait for a better option to go into the market.
The four technicals on this EUR/USD daily chart are far enough from their centerline to foretell a imminent retracement, within the next week. Bollinger Bands, Full Stochastics and StochRSI have bottomed out and if the retracement has not happened by then the RSI will be at the bottom with them as well. Price action shows a support level at 1.750, I would keep any trades made, long.