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
<font size="2">Very erratic movements, it looks like that bulls and bears can easily change the direction. </font>
<font size="2"> USD/JPY: The Dollar Yen has been relatively volatile as of late. On the chart below there are levels of support and resistance indicated by the bright green horizontal lines. We have now tested 89.90 twice on the close. </font>
<font size="2">EURUSD bears couldn't stay below the resistance level, and bulls once again made a strong positive slide by breaking the resistance level.</font>
<font size="2">With neither the Bollinger Bands, Full Stochastics, StochRSI or RSI straying far enough from the centerline on the daily chart. </font>
This pair did calm down now after a breakout of resistance level, concentration after previous positive movements, can initiate further upside slide.
The two most powerful news items for the EUR/USD today on November 6th should contradict each other, so I look to the technicals.
<font size="2">This pair is trapped between resistance and support levels for a long time, while candles remain in this neutral area, further jumping is expected.</font>
<font size="2">EURUSD even though bulls did manage once again to jump out of neutral area, bulls are still not that confident as they should be.</font>
<font size="2">After long way downside, bulls are trying to recover the price. </font>
<font size="2"> The EUR is still seeking some direction having just bounced off of support of the 50 day MA. In the daily EUR Chart below we once again are looking to our Fibonacci levels in search of some key handles. </font>
<font size="2">Bulls strength stays for longer term, at the moment an attempt to reach resistance is valid. </font>
<font size="2">The only news with a forecast, or a forecast that differs from the previously released figures and is worth putting any commitment to, is USD's Unemployment Claims at 8:30am est. </font>
<font size="2">EURUSD once again bulls showed their strength by climbing above resistance. </font>
<font size="2">Consolidation above resistance level, however this might not last long, according to the current trend, bears have more options, but bulls attempt above resistance shows first signs of recovery. </font>
<font size="2">This pair has created some sort of channel which is sliding downside towards support level, however trend for this pair is positive.</font>