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
Forex Technical Analysis
The USD/JPY pair fell initially during the session on Monday, but found enough support below to turn things background inform a hammer.
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Learn how the EUR/USD pair did in the month of April with this Forex signals recap here.
Gold gained ground for the first time in five days against the American dollar as geopolitical concerns returned to the forefront after the government in Ukraine launched a military operation to regain control of the eastern portion of the country and the United Nations held an emergency meeting.
The WTI Crude Oil markets rose during the session on Friday, breaking above the $100 level by the time the session closed. Because of this it appears that the market is ready to go higher, and I recognize that a move above the $100 level is in fact significant.
The EUR/USD pair initially fell during the session on Friday as the nonfarm payroll numbers came out much stronger than anticipated in America. However, the market looked upon the numbers with suspicion as they rightfully should.
The GBP/USD pair fell during most of the session on Friday, but found enough support at the 1.68 handle to turn things back around and form a hammer. This area was a significant area of consolidation during the last couple of weeks, so it’s not a big surprise.
The GBP/USD pair initially rose during the session on Friday, breaking above the 1.83 level at one point during the day. However, you can see that we pull back and form what looks to be essentially a perfect shooting star.
The USD/JPY pair initially tried to rally during the session on Friday, but found the 103 level to be far too resistive to continue going higher.
Check out the weekly Forex forecast for some of the major pairs here.
The XAU/USD pair fell for a fourth consecutive day as investors’ confidence in gold was eroded after the bulls failed to push prices above the 1293 resistance level.
The WTI Crude Oil markets fell during the bulk of the session on Thursday, testing the $99 handle. This is an area where I expect to see a significant amount of support, so the fact that we bounced a little bit towards the end of the day really doesn’t surprise me much.
The EUR/USD pair broke out to the upside slightly during the session on Thursday, but as you can see the 1.39 level offered enough resistance to push the market back down, forming a shooting star.
The USD/JPY pair fell initially during the session on Thursday, but as you can see we bounced off of the 102 level in order to form a little bit of a hammer.
The GBP/USD pair tried to rally during the bulk of the session on Thursday, but as we approached the 1.69 level, sellers came back into the marketplace to push the British pound back down.