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 AUD/USD pair tried to rally during the session on Monday, but as you can see it lost most of its strength during the session. This candle ended up being a shooting star, which of course is a fairly negative candle overall.
The USD/JPY pair gapped at the open on Monday, falling significantly but spent the rest of the day filling that gap.
As the forecast correctly anticipated might happen, the news later that same evening sent the price shooting down below the low of 1.0245, to reach a low of 1.0181.
It looks like October will be a positive month for the CAD/JPY pair. Find out why with this Forex forecast here.
Gold prices ended the week higher and settled at $1335.95 an ounce on Friday. It appears that the XAU/USD pair found some support after four consecutive weeks of losses but remaining within the previous week's trading range indicates that neither the bulls nor the bears were able to send the price beyond the range of the previous week.
Last week was an inside week, it also looks by eye to be the smallest range week we have had in this pair for at least two years or so. The action was bearish and most of this bearishness was decided on Friday, when the price rose up and then fell sharply just as quickly as it rose, ending the week down, after the two recent bullish weeks.
The WTI Crude Oil markets tried to rally during the session on Friday, but as you can see the $104 level offered enough resistance to turn the market back around and form a shooting star.
The Euro had a positive session on Friday against the Dollar, but as you can see gave back about half of the gains. As we break above the 1.35 handle, we are starting to see some significant resistance.
In the cable pair we had a nice bullish session on Friday suggesting that the market is ready to go higher again, as the 1.60 level continues to offer significant support.
The USD/CAD pair tried to rally during the session on Friday, but as you can see gave back most of the gains and ended up forming a negative shooting star. The shooting star of course is a negative sign, but we also have hammers from earlier in the week which suggests to me that this market is going to be very tight going forward.
Check out the forecast for some of the major Forex pairs and possibly end the month successfully.
Check out the weekly signal for the USD/CHF pair here.
In the WTI Crude Oil markets we saw a little bit of bullishness during the day on Thursday, but as you can see the $102 level was an area that quite frankly we would've have expected it. Because of this, I can't say that I'm overly surprised, but do recognize the fact that the on certainly favor a bounce from here, not some type of massive fall.
The EUR/USD pair fell during the session on Thursday, but as you can see we remain pretty close to the 1.35 handle. Because of this I feel that this market is essentially taking a rest after a nice move higher, and of course it makes sense that the market would simply sit still because of the parabolic nature of the move.
The EUR/JPY pair rose during the session on Thursday, but as you can see it struggled to hang onto the gains for any real length of time. The resulting candle is somewhat of a shooting star, and it does suggest that the market might be ready to pull back.