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.
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The CHF/JPY pair is one of my favorite pairs in the sense that it does tend to form a very distinct range that the market will trade in from time to time.
The GBP/CAD pair initially fell during the session on Monday, but as you can see bounced enough to form a nice looking hammer.
The EUR/USD pair broke higher during the session on Monday, but as you can see failed above the 1.35 level as the resistance continues to hamper the buyers and keep them at bay.
The WTI Crude Oil markets tried to rally during the session on Monday, but as you can see were repelled yet again near the $95 level in order to pull back and form a shooting star.
Check out the weekly signal for the USD/JPY pair here.
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Gold settled at $1287.95 an ounce on Friday, as investors decided to take some of profit off the table prior to the release of the Federal Open Market Committee meeting minutes.
Last week produced a bullish inside candle that closed close to its high. The action has reversed from the 50% Fibonacci retracement level of the recent upwards move, and at the end of last week broke above the weak resistance from 1.3440 to 1.3465.
The chart shows clearly that there has been a bullish breakout of the long-term triangle. The last two weeks have produced very bullish candles following the bullish reversal candle of three weeks ago.
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Check out the weekly Forex forecast for the week of November 18, 2013 here.
The USD/JPY pair went back and forth on Friday, but the market still looks like it wants to go higher based upon higher time frame charts such as the weekly. Having said that, I'm still bullish of this market although there is the possibility that we get a little bit of a pullback here.
The GBP/USD pair rose during the session on Friday, breaking the top of the neutral candle that we had printed on Thursday.
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Sign up to get the latest market updates and free signals directly to your inbox.The USD/CAD pair fell slightly during the session on Friday, continuing to grind sideways as the pair typically does.
The AUD/CAD pair rose during the session on Friday, bouncing off the 0.9750 level again. This is an area of consolidation and I find interesting, simply because we have the Australian dollar looking like it's trying to find support against the US dollar, then this market does tend to mirror that one.
The WTI Crude Oil markets continue to look a bit weak overall, as the market seems to be content sticking around the $94 level. This area looks as if it could be a bit of accumulation, or possibly the calm before the storm so to speak, as we go lower.