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
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.
There is no question that the EUR-JPY is in a downtrend, but just how strong is it?
There is still no heavy news releases today to aid the technicals' machinations to send the EUR/USD pair up.
The recent daily chart of the GBP/CAD shows a prolonged downtrend. Since early March, though, the trend has flattened, with the price forming a wide trading range.
Many market participants look at the AUD-CAD pair for clues about the general strength, or weakness, of either one of these currencies. The premise is, that if the AUD-CAD is bearish, than all other crosses of the Australian Dollar will follow. The opposite is true in a bullish scenario.
The dive the Dollar took the Euro along for the ride on, is unlikely to end. The bit of witchcraft that I choose today in assessing the USD's assent is the strong trend.
Divergence is a very popular concept in the field of technical analysis
Over the last few days, the GBP-USD pair advanced about 400 pips. Many voices are being raised about a longer-term reversal taking place here.
Bollinger Bands below their centerline, Full Stochastics below far their centerline, RSI far below their centerline, only the volatile StochRSI is above it's centerline.
Monday was a holiday in the U.S.A., which resulted in a relatively inactive Forex market. Most of the currencies had much smaller daily trading ranges on a very light volume.
The EUR-CHF pair has been making news lately. The most obvious reason is the market preoccupation with the Euro and its fall from glory.