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
Browse by category
Forex Technical Analysis
Technicals will be taken down again by the good news for the dollar on the 4th. Bollinger Bands, Full Stochastics, StochRSI and RSI are each in their windows and all low. Price action has showed the EUR/USD pair is stable around the 1.3900 level. That show of stability will help future movement downward.
Bulls did manage finally to break trend line, however below 1.4048 price level bears are still in good shape. Despite this bulls attempt to climb higher, bears are controlling the current situation. Look for selling possibilities below this barrier, but it should be done with a care for now.
The EUR/USD's daily chart shows a lapse in the dollar's recent rise to power. This will likely be corrected by the two high powered news items that are released on the 3rd.
Negative trend remains strongly active. However, according to recent bulls attempt, they showed first signs of recovery. At the moment waiting action is better option in order to confirm bulls strength. If a trend line is broken, bulls have a chance to slide above 1.4048 price level.
As mentioned Sunday, EUR/USD tested our LT targets at 1.3852 and has held there for now. The next resistance level should be at 1.3988, with a ST cycle completion target of around 1.4115. ST support should be at 1.3938 and 1.3911.
Ex-support 1.4048 and ex-resistance 1.4409 levels hold at the same places. Strong negative trend remains for this pair, at the moment short term upswings are expected. However, while downtrend holds, look for selling possibilities, but it should be done with a care for now.
A gentle rise in the StochRSI shows a level of stability in the EUR/USD's daily chart. The same daily chart's Bollinger Bands are not as wide, showing a decrease in recent volatility.
The downtrend continues with no letup for any of the four technical indicators on the daily chart of the EUR/USD. Bollinger Bands have the price at the bottom, Full Stochastics are scraping the bottom, StochRSI is crawling at the bottom and RSI is rolling threw the mud.
EUR/USD is trading at levels where several LT cycles should provide support. In our chart both the black and dark purple cycles show channel targets where we made lows overnight, and the dark red LT cycle has its 2nd channel extension target just above the lows. If we continue lower, there is LT technical support at 1.3750.
EURUSD negative trend is extended by low bearish movement below support barrier. Even though bears are sliding downside, lack of confidence can initiate bulls price recovery. At the moment, look for waiting option with selling opportunities, but it should be done with a care.
Ready and wide to accept the wilds of the EUR/USD pair, the Bollinger Bands have had the price in their lower regions for many days. Each of the three remaining indicators on the daily chart have been directed down by the dollar's rise to riches. Full Stochastics, StochRSI and RSI, each down and asking any market mover that will listen or bit of news for help up.
EUR/USD reached our ST 4th channel extension target at 1.3945 overnight, bottoming at 1.3936. This should complete the ST down-cycle, and the angled gray cycle shown also completed four channels at that level, reinforcing the validity of the bottom. Whether we merely correct the ST down-cycle now or begin a new MT up-cycle remains to be seen, as we have conflicting signals in the LT.
The Bollinger Bands still open wider to accommodate the EUR/USD's march into the depths of the dollar's unforeseen ride to power. Each of the other indicators, Full Stochastics, StochRSI and RSI are at the bottom of their windows and asking some bit of news or group of market movers to lift them from the depths. On the 28th that lift will not come in the form of news, the heaviest items for this pair today cancel each other out.
Today the Bollinger Bands are even wider, ready for more movement. Each of the other three indicator windows, Full Stochastic, StochRSI and RSI is ready for the EUR/USD pair see some upward movement.
After trading sideways most of Monday, EUR/USD has dropped down out of consolidation after reaching our 4th channel boundary at 1.4179 (light blue). A new ST down-cycle is likely forming, with tentative projections at 1.4036, 1.3999 and 1.3962 (orange). If we correct up higher than resistance at 1.4110, then those targets will change.