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 EUR/USD pair fell during the session on Tuesday, but as you can see there was a bit of a bounce towards the end of the session, showing that there is underlying support.
The USD/JPY pair did very little during the session on Tuesday, but what's most important is the fact that we are above the downtrend line that was broken out to the upside on Monday. That being the case, I feel that this market is showing that there is significant buying pressure underneath, and as a result I think this market will continue much higher.
The USD/CAD pair did very little during the session on Tuesday, but remained above the 1.05 handle. This level has been significant support over the last couple of weeks, and I believe that will continue to be.
According to the analysis of the EUR/USD and USD/JPY trader profited on a binary options platform. See how here.
Gold continued to lose ground against the American dollar as worries about a potential U.S. strike on Syria eased temporarily. The XAU/USD pair initially fell to a six-day low of 1373.79 before recovering to 1392.
The WTI Crude Oil markets did very little during the session on Monday as Americans and Canadians celebrated Labor Day. However, there was limited electronic trading during the session, which of course produced a significant hammer.
The EUR/USD pair did very little during the session on Monday as one would expect, after all it was Labor Day in both the United States and Canada. With that being the case, there was a significant portion of this day that would have very little in the way of volume.
The USD/JPY pair went straight through the roof on Monday, as the US dollar started beating up the Japanese yen. What is significant is the fact that we have broken a downtrend line, and as a result I believe that this market is going to continue higher.
The AUD/CAD pair is an interesting one, but one that a lot of people don't follow. This is because they mistakenly think that it's difficult to trade simply because both are thought of as commodity currencies.
The USD/JPY daily chart has been trading itself into a descending triangle, and yesterday it finally broke this triangle with a bullish daily candle that closed at 99.32.
Check out the updates for signals posted previously with the AUD/USD, EUR/USD, and GBP/USD pairs here.
Last month produced a bearish bar, with a long upper wick. It is not a very strong candle leading to any forecasts, but from this it can be said that the long-term bearish trend is continuing for the time being. Get the full analysis here.
According to Christopher Lewis's analysis of the AUD/USD and EUR/USD pairs, trader profited on a binary options platform. See how here.
Over the last 3 days, the weak bearishness has continued, with price falling but coming right back up again. We finally had a daily close below 1.5508 on Thursday, but by very little, and Friday also closed below that level, also by not much.
The XAU/USD pair continued to retreat on Friday as strength in the American dollar and weakening demand helped sellers to dodge the bulls' attacks. As a result, the pair printed a shooting star on the weekly chart.