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
Currency: GBP/USD Trend Expected Direction: Down Strategy: Elliott Waves and Fibonacci Trading
USD/CHF Based on Doug’s analysis of the USD/CHF, it continues to remain bullish, which creates an investment opportunity in the following positions: “High” or “Above”, “Touch” or “No Touch Down” on the USD/CHF.
This pair still appears to be within a range even though it broke out of its price trap, revisited and fell just a bit. On the daily chart it is very obvious that price has been floating around in between the 50.0 and 61.8 fib zone.
The EUR/USD is looking bearish to me today. Beginning my analysis with a brief look at the weekly chart it is very obvious price has been in a downtrend.
The EUR/JPY has recently made a 50.0 fib to the down side overlapped with a 55 ema on the weekly time frame and at this time the weekly candle is just below the 21 ema.
Beginning my analysis today with the EUR/GBP weekly chart I see that price is now approaching the 144 ema and the 5 ema is heading down and is building up angle and separation from the other ema's.
Beginning my analysis with the Swissy weekly time frame the Swissy looks bullish. Price is clearly riding along the 5 ema and the 13 ema has crossed above the 21 and the upper Bollinger band is pointing up.
The Aussie seems to be stuck on the daily S/R zone around 1.0326 and has not closed below this level since October 20th.
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Starting out with the weekly chart for this pair it is easy to see this pair made a 50.0 fib that perfectly overlapped with the 55 ema.
The GBP/USD starts off the new week still trapped within the same range it has been in for months. Looking at the daily time frame price is above support and heading up.
The new week for the Swissy kicks off with price bouncing off the 5 ema to the upside. Price however is closely approaching the 55 ema which will surely add a bit of downside pressure.
The EUR/USD kicks off the new week at the 50.0 price level to the upside, however, the 5 ema has rolled over and appears to be pushing price down.
The EUR/GBP kicks off the new week in mid air. On the weekly chart we are neither at support or resistance levels as of yet.
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