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 EUR/USD pair rose for the session on Tuesday, as we continue to chug along for the 1.3150 level. The area is the top of a larger consolidation area, and as such I think there could be some resistance coming up, and the first sign of resistance will more than likely send the pair looking for a pullback.
The NZD/USD pair rose during the Tuesday session, as the New Zealand dollar continues to be a favor way to express a "risk on" attitude for currency traders around the world. However, we did see a bit of a fight at the 0.8250 level, an area that has given this market quite a bit of trouble over the last two weeks.
The GBP/USD rose during the session on Tuesday, but failed to close above the 1.61 level in a sign of strong resistance. The resulting candle is a shooting star, and as a result this looks like weakness showing up in the pair.
The Bulls pushed the GBP/CHF as high as 1.4981 yesterday in the first few hours of the London Session before the pair reversed and fell 76.4% of the daily range, to close at 1.4917 and forming a pseudo hammer or pin bar candle on the Daily Chart.
According to the analysis of the USD/JPY and GBP/USD trader profited on a binary options platform.
Although XAU/USD tried to climb yesterday, the pair run out of gas and fell back to Friday’s settlement price during the Asian session today. Weak growth in the United States and Europe damped demand for gold.
Catch up on where the EUR/CHF went last week and where it is headed with this signal update from DailyForex.com
The GBP/USD pair exploded to the upside during the Monday session as the manufacturer PMI levels came out higher than expected. This gave a boost for the British currency, and as a result we saw the 1.60 level succumb to the buying pressure.
The USD/JPY pair fell during the Monday session as we continue to struggle with the 82.50 resistance level. However, over the long term I do believe that this pair will continue to go higher, and I also think that the Wednesday hammer from last week shows that there is significant support at the 82 handle overall.
The AUD/USD pair fell during most of the session on Monday as the jitters involving the fiscal talks in the United States continue to put a bit of a weight around bullish attitude in the market.
The Kiwi got a little boost out of the Australian RBA announcement during Asian trading which saw the RBA reduce the Overnight Cash Rate to 3.00 from 3.25.
Today’s ETF trade of the day is in EWJ, a Japanese index fund. The fund seeks results that correspond generally to the price and performance of securities in the Japanese market, primarily on the Tokyo Stock Exchange.
According to the analysis of the USD/JPY and EUR/USD trader profited on a binary options platform.
XAU/USD fell for the week but managed to close just above the Kijun Sen line (1713.38) at 1713.55. Prices drop after Moody's Investors Service has downgraded European Financial Stability Facility and European Stability Mechanism from Aaa to Aa1.
The EUR/USD pair rallied during most of the session on Friday, but gave back quite a bit of the gains once we got above the 1.30 level. The thing that I found most interesting about this candle is that it is the second shooting star a row, which normally means bad things.