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.
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The Euro initially tried to rally during the trading session again on Tuesday but as we have seen multiple times, the market cannot hang out above the 200 day EMA for very long.
The British pound broke down significantly during the trading session on Tuesday, reaching down towards the 1.31 handle. At this point, the market is looking at significant support underneath extending all the way down to the 1.30 level.
EURUSD: Consolidation between 1.1131 and 1.1198
The British pound has broken down rather significantly during the trading session on Tuesday, which is probably overdue after the knee-jerk reaction of the election.
The Australian dollar has fallen a bit during the trading session on Tuesday but has seen buyers come back to push it higher again.
The US dollar has initially tried to rally during the trading session on Tuesday, but as you can see, we have in fact pulled back yet again from the same basic area.
The EUR/USD is trying to hold on to its recent gains, that push it towards the 1.1200 resistance, its highest in four months, before settling around 1.1148,
Despite the GBP/USD correcting to the 1.3235 support in the morning trading today, Tuesday, the general trend of the pair is still up.
On the gold daily chart, price is moving in a narrow and limited range despite the announcement of important economic data and global developments
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For three consecutive trading sessions, the USD/JPY is trying to breach the 109.70 resistance to complete the general trend reversal.
The Australian dollar is highly sensitive to the US/China trading situation, and as we reached the “phase 1 deal”, one would think that the Australian dollar would have shot higher in the air.
The US dollar has rallied a bit during the trading session on Monday but continues to look a little bit hesitant to try to break out against the Japanese yen.
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USDJPY: Bullish above 109.50
The Euro has rallied a bit during the trading session on Monday, reaching above the 200 day EMA initially.