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
The EUR/USD fell during most of the session on Monday, in order to crack the 1.22 level. The pair has been following rather relentlessly over the last couple weeks, and as a result we have found a bit of a temporary bottom in the form of the 1.2150 level.
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According to the analysis of the GBP/USD and EUR/USD trader profited on a binary options platform.
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The Canadian Dollar gained ground again against is southern cousin the US Dollar on Friday after Thursday's market movement printed a bearish pin bar on the Weekly R1 at 1.0215.
The AUD/USD pair saw tremendous rally during the Friday session, as the markets embrace the riskier assets globally. The move was a bit surprising, but it should be kept in mind that the Australian dollar is somewhat of a proxy for the Chinese economy.
GBP/USD had an absolutely astonishing day on Friday as the market shot straight up. The candle even managed to close the very top of the daily range, and as such it looks like there is still some type of energy below it looking to push prices higher.
EUR/USD rose during the session on Friday, as the 1.22 level managed service support. The bounce will have caught some people by surprise, but it really isn't necessarily that shocking if you look at the charts over the last couple of weeks.
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The GBP/USD pair fell during the Thursday session to break down below the 1.55 support level. The reason this is important is that it is the bottom of consolidation that we've seen during most of the summer.
EUR/CAD is a pair that I don't talk about very often. However, if you look at the Canadian dollar in general, you see strength. This makes sense as the oil markets have continued to be resilient in the face of a fairly strong selloff.
EUR/USD fell again during the Thursday session as one would expect, but the fact is that there was a bounce towards the closing and this suggests that we may see a bit of an awakening.
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The GBP/USD attempted to break higher in yesterdays trading, topping out at 1.5577 and piercing the Weekly Pivot at 1.5553 The pair failed to reach the Monthly Pivot by only 5pips due to previous daily closes lining up as resistance at 1.5564.
EUR/GBP fell, and then bounced on Wednesday in order to form a hammer. The fact that this hammer has appeared at roughly the 0.79 level suggests to me that a bounce is coming.