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 NZD/USD pair fell hard during the session on Wednesday, proving the 0.85 level would be overly resistive as one would expect.
The EUR/GBP pair rose during the session on Wednesday, breaking above the 0.85 handle, an area that I've been talking about for some time now. By closing above the 0.85 handle, and now feel comfortable enough to start buying this pair on pullbacks, or simply a break above the highs for the session.
The GBP/JPY pair fell hard during the session on Wednesday, slamming into the 157 handle. However, we do get a little bit of a bounce but I still feel that this market is probably heading down towards the 155 level before it's all said and done.
This weekly chart shows that last week formed a strongly bullish candle, closing hard on its high.
The XAU/USD pair (Gold vs. the American dollar) produced a bullish candle as the American dollar lost strength across the board during yesterday's trading session.
The WTI Crude Oil markets initially tried to rally during the session on Tuesday, but as you can see ran into a lot of trouble just above the $100 level.
The EUR/USD pair shot straight up during the session on Tuesday after the nonfarm payroll numbers came out much lighter than anticipated. Because of this, traders anticipate that the Federal Reserve will not be able to taper off of quantitative easing anytime soon, and this of course is dollar negative.
The GBP/CHF pair fell during the session on Tuesday, but bounced off of the 1.45 level yet again. This level has been significant support, as well as significant resistance in the past.
The NZD/USD pair rose during the session on Tuesday as all currencies in general gained against the US dollar.
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The AUD/USD pair shot higher during the session on Tuesday, as the nonfarm payroll numbers came out rather disappointing.
The bullish bias and prediction that the next break would happen to the upside were completely correct as was the implication that support was a bit stronger than resistance.
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Sign up to get the latest market updates and free signals directly to your inbox.Gold prices (XAU/USD) settled slightly lower yesterday as the 1326 level, where the bottom of the Ichimoku clouds on the daily chart resides, continued to offer resistance. Today the markets will focus on the U.S. nonfarm payrolls report and unemployment rate.
The WTI Crude Oil markets fell hard during the session on Monday, plunging down towards the $99 handle. However, the $99 level is the bottom of the support zone that I had been talking about, so I do not have a sell signal yet.
The EUR/USD pair did very little during the session on Monday, but this makes sense of course considering that the nonfarm payroll numbers are coming out today. The markets have been concerned as to whether or not the Federal Reserve can taper off of quantitative easing, which should dictate the value the US dollar in general.