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 technical analysis is on cross roads of both directions regarding the EUR/USD pair.<br />
Today the technicals tell a prelude about the EUR/USD pair that is due to plummet, with three of them over their centerlines and the stalwart RSI on the fence.
With news both yay and nay for America's Dollar, we will turn to the technicals for guidance in our time of need today.
Currently the EUR/USD pair is trading within a well-defined upward channel. In retrospect it is in a short term uptrend. You know what the markets say- “trend is your friend.”
The hourly chart of the CAD-JPY is developing a possible "head and shoulders" formation. The head and shoulders pattern tends to be more reliable than many other chart formations and is worth paying attention to.
Risk rally is helping to take all of the high yielding beta currencies higher. Aussie is among currencies which is savagely pushing to the upside.
A trio of technicals stands bravely against two mighty news items, both lined up favoring the EUR/USD rising up on the charts today.
Based on the candlesticks and other technical indicators, the NZD/USD could resume its previous downtrend.
While all of other higher beta currencies have already cleared their respected resistance levels to formulate a proper bottom, GBP/USD is lagging way behind.
Has price action pumped this pair into the upswing of a wave or have technicals taken the EUR/USD to the top of this wave?
Most of the currencies have been lively over the last few weeks. However, the USD/JPY itself remained about the most lifeless of the majors. Seems that this choppy stretch might be ending soon, though.
The tale the technicals would like to tell this day is one of a EUR/USD rising. When time and other factors are added in though,
After the ECB opted to maintain the interest rates at bay of 100 basis points, the EUR/USD continued to put a clinic of how to turnaround from a gut wrenching downtrend.
Unable to turn a blind eye to the bomb forecast to favor the Dollar tomorrow, price action has decided to put the EUR/USD in a upswing so the coming potential downward movement will look like a nice wave on a daily chart
Following a large sell off last week, the AUD-USD has been gaining ground over last few days.