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
Prompted by a successful Spanish Auction, the Euro accelerated its gains.
The technicals on the three hour chart tell a tale of a tumble downhill long overdue for the the EUR/USD. Three news releases foretell of a fine future for the USD.
Currently the intermediate term chart of the EUR/AUD cross is in a process of building a rounded bottom. It is not confirmed yet, but so far, it has a classic look.
The Japanese Yen has been in range trading for sometime now. Despite it being a tight range, there are plenty of opportunities to capitalize on the movements with low amount of risk.
A ceiling of 1.2740 appeared later in the day on the three hour chart.
Risk is on this Tuesday morning. A combination of good news, bad news has stirred the Euro.
Cable (GBP/USD) is very volatile pair to trade and with the correct patience and forex management skills one can bank up some pips nicely daily whilst enjoying trading.
A foul forecast is set for the Euro's side of the EUR/USD, while a favorable forecast is set to aid the Dollar's recent diminishing strength in this pair's ongoing power struggle.
Over last couple of days the EUR/JPY has been trying to find direction. <span style="font-size: 13px;"><span style="font-family: arial,helvetica,sans-serif;"><span style="line-height: 115%;">The support or the trendline will be broken soon, indicating the direction of the next move for the EUR/JPY.</span></span></span>
Looking at the Aussie, we currently find the pair ranging after a prolonged uptrend. A probability of the AUD/USD pair making a trend after a break of either resistance or support is high.
No forecast variance to hang a limit order or hat onto, just a uptrend that is opposed to what each of the technicals are telling us, when we look into their windows.
Following a very positive labor report last week, the Australian Dollar enjoyed a strong rally. That stalled on Friday, with the AUD/USD staying in a very tight range, in relation to preceding days.
Lack of great news to guide the EUR/USD on the daily graph, has us turn to the technicals. Bollinger Bands,
Trader sentiment is forecast to favor America's only currency, the Dollar. That will aid in guiding the EUR/USD pair's path down.
The Euro has bounced off its lows, in a broad move, engulfing most of its pairs. This includes the EUR/GBP.