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
Euro/Dollar made a moderate decreasing movement on Tuesday, reaching a peak at 1.4014, than dropping down to 1.3912, closing the day at 1.3965.
EURUSD moved up again above 1.4000, but next resistance line at 1.4046 for a moment stays firm. It is hard to give any clear technical picture for this pair. This is due to very choppy market.
EURUSD still can't go above 1.4000 price level. A resistance for now stays at 1.4005, and support at 1.3926, selling is still on a table, but needs to be done with a care.
USDCAD breaks below 1.1543 support, suggesting that a short term cycle top has been formed at 1.1723 level on 4-hour chart.
EUR/USD Open 1.3967 High 1.4007 Low 1.3902 Close 1.3976
Euro/Dollar failed to continue the downward movement on Monday. The currency couple made a bottom at 1.3902, than climbed up to the 1.4004 top, closing the day at 1.3976.
EURUSD formed resistance at 1.3975 and support line at 1.3884. Trend is still negative and there is a possibility of breaking support line
EURUSD a break of support (1.3891) like it was stated in previous analysis is confirmed. This pair has formed another support at 1.3848 for now.
AUDUSD drops sharply below 0.7789 previous low support and reaches as low as 0.7722 level. The pair remains in downtrend from 0.8155. Deeper decline is still possible to 0.7650-0.7700 area.
Euro/Dollar attempted to decrease on Wednesday, reaching a top at 1.3929, and from there descending to the 1.3832 bottom with around 100 pips, but further bearish pressure was limited as the currency pair closed the day at 1.3880.
EURUSD bears are taking over the control from bulls. There is a good chance today to break support line at 1.3891 and reach new lows this month.
After touching 1.4027 resistance, EURUSD drops sharply from 1.4050 level, suggesting that the pair remains in short term downtrend from 1.4197.
Euro/Dollar made a moderate downward movement on Tuesday. The currency couple climbed to the 1.4046 top, than dropped down to 1.3910. On the 1 hour chart the European currency broke the 1.3910 support downwards.
EURUSD breaks below 1.3889 key support and reaches as low as 1.3876 level, suggesting that the pair is now in short term downtrend from 1.4197. The price action in the trading range between 1.3876 and 1.4027 is treated as consolidation of downtrend.
EUR/USD Open 1.3973 High 1.3997 Low 1.3887 Close 1.3981 Euro/Dollar failed to continue the upward movement on Monday. The currency couple reached a top at 1.3997, descended down to 1.3887, and closed the day at 1.3981. The Dollar was backed by the lower risk investments, which weakened the Euro.
EURUSD has broken the support line at 1.3958. At the moment we can notice just a long needle, but to confirm negativeness we want to see candle's full body closing down under the 1.3958 price level. Neutral is a trend now, but it can turn quickly into the negative side.