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 rose during the session on Friday, mainly in response to the nonfarm payroll number that was weaker than anticipated out of the United States. The theory being that the Federal Reserve could not taper off of quantitative easing anytime soon, and this of course weakened the US dollar.
Check out the forecast for the major Forex pairs here and be prepared for the week ahead.
The XAU/USD pair printed another bearish candle yesterday on the back of the solid U.S.
The WTI Crude Oil markets rose during the session on Thursday to continue grinding sideways.
The EUR/USD pair fell hard during the session on Thursday, as we broke well below the 1.32 handle.
The GBP/USD pair tried to rally during the session on Thursday, but as you can see the 1.5650 level offered enough resistance to push the market back down, and form a shooting star.
The USD/CAD pair went back and forth during the session on Thursday, essentially forming a neutral candle by the end of the day.
The GBP/USD pair rose during the session on Wednesday, proving that the market seems to want to hang out between the 1.55 level on the downside, and the 1.5750 level on the upside.
The EUR/USD pair rose during the session on Wednesday as you can see, breaking above the hammer that had formed for the session on Tuesday.
After failing to break through the 1416 resistance level the XAU/USD pair turned south and gave back all of the gains made in the previous session.
The WTI Crude Oil markets fell during the session on Wednesday, but as you can see found support at roughly the same area the markets pushed the price back up to at the end of the session on Tuesday.
The NZD/USD pair rose during the session on Wednesday, breaking above the short term resistance that we have seen over the last couple of weeks.
Monday was a bullish engulfing candle that closed very near its high well above the trend line, so it looks like a strong bullish breakout. Momentum and bias are bullish, so it is a question of looking where to take profits and where pullbacks might find support in any pauses in the uptrend.
The AUD/CHF may have found a floor at last week’s low of 0.8175. The pair printed an Inverted Hammer on the monthly chart on the support zone at 0.8260 and has since spent 3 of the last 4 days climbing.
Last month ended as a bearish candle off the unbroken (in this time frame) 2-year long-term bearish trend line. It was the lowest monthly range of recent years. Get the full analysis here.