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
I will start my analysis with this pair taking a brief look at the weekly chart. Price is at a fib level with the 13 and 5 ema just below price with a stochastic pointing up.
This pair look like it will have a bullish week but at this moment looks like a mixed bag when comparing it to all the different time frames. Starting out with the weekly chart today I can already see ema crossovers.
This pair has been bearish for the last couple weeks and I think this bearishness will continue this week. A brief look at the weekly chart displays that the stochastic is in the overbought zone and that the 5 ema is coming down, approaching the other ema's and a crossover could be imminent.
The pair known as the Aussie/Kiwi appears to be setting up to break higher. A series of lower highs and higher lows on the daily charts is hinting at a break out favouring the bulls.
Starting my analysis today on the daily chart it is clear that price has precisely reached the 61.8 fib overlapped with the lower trend line of the price channel price had previously been trapped within.
After yesterdays steep move up, I do expect a retracement. On the daily chart we totally broke above the trend line.
Yesterdays bullish move for this pair, as intense as it was, now leaves price up against a layer of resistance. I look at the daily chart from two perspectives.
The Swissy made a vast drop yesterday. There were a lot of big moves yesterday and usually after a big move consolidation follows.
As of yesterday, this pair took off and broke out of the price channel it has been trapped in since the summer to the upside.
The AUD/CAD pair has finally broken out of the zone between 1.00 and 1.05527 that it has been trading in since April 2011.
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I will start my analysis for this pair today with the weekly chart. Price fibbed recently just shy of the 50.0 and now is coming into contact with the 13 and 21 ema's and I would like to point out that the 13 is crossing above the 21.
The EUR/GBP is definitely in a bullish state since yesterday. Taking a quick peak at the weekly chart it is evident that this pair had breached, retested and is now heading up and out of the price trap I had it in.
Starting off with the daily chart it is obvious price is riding the 5 ema up and this pair has been looking quite bullish and has breached the daily 144 ema.
This pair is caught inside of a price trap in my hourly chart. It has been in a consolidation range for the last week or so trying to make up its mind and I think it is getting close.