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 Swiss Franc continues its historic rally, especially against the US Dollar.
The Australian Dollar has been one of the biggest beneficiaries of the intervention in the Japanese Yen by central banks in mid March. It has rallied about 1500 pips in relation to the JPY since, a very strong appreciation in such a short time.
In spite of bad news regarding sovereign debt of some of the member states of the European Union, the common currency has been getting stronger.
The New Zealand Dollar has been very popular lately. Since the joint G7 central banks' intervention in the Japanese Yen, all of the commodity currencies, including the NZD, registered significant gains.
The intervention in the Japanese Yen last month was targeting the USD-JPY exchange rate, which was at an all time low. While other Yen crosses were not at extreme levels, they also benefited from that action, in most cases eve more than the US Dollar.
The EUR/GBP pair finds itself currently just over a bearish trend line that started in late 2008.
The Japanese Yen has not been the only currency getting significantly weaker since the G7 central banks intervention few weeks ago. Another "safe haven" currency, the Swiss Franc has also been on defensive during the same time, falling broadly.
Together with the Australian Dollar, the Kiwi staged impressive rallies in most of its crosses, which in some instances exceeded a 1000 pips mark.
Two weeks ago, the US Dollar dropped to an all time low against the Japanese Yen, reaching 76.12. It did not stay there for long, rebounding immediately.
The New Zealand Dollar staged a very impressive rally lately. It advanced broadly, gaining on most currencies, including the US Dollar.
The Canadian Dollar has been getting stronger against the US Dollar. However, the recent price action has been much smoother than in other pairs, particularly when we look at the daily chart.
There have been some serious gyrations in some currencies lately, and the EUR-AUD pair has not been immune.
The CHF had a strong surge recently. What should this mean for your Forex trading strategy?
The Canadian Dollar – Swiss Franc currency pair broke out of the prolonged trading range it had occupied for a long time.
In the aftermath of the earthquake, which hit New Zealand few weeks ago, that nation's currency fell into a disfavor.