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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Forex Technical Analysis
The Euro broke lower during the trading session on Tuesday, breaking the 50 day EMA.
The US dollar initially fell during trading on Tuesday but found buyers underneath the turnaround of form a bit of a hammer shaped candle.
The S&P 500 rallied a bit during the trading session on Tuesday, but then turned around to form a shooting star.
The WTI Crude Oil market pulled back a bit during the trading session initially on Tuesday but found enough buyers underneath the turn around to break above the $64 level again.
Bitcoin markets rallied a bit during trading again on Tuesday, reaching towards the top of the Monday candle stick which of course was a bit of exhaustion.
Gold markets got hammered during trading on Tuesday as we broke down through a major support line in the form of the $1280 level.
On Tuesday, markets and investors in the Forex market will monitor the reaction from the announcement of the British jobs reports, such as the announcement of the average wage, the rate of change in the number of jobs and unemployment rate, and the announcement of the ZEW index of German economic and industrial production.
On Tuesday, April 16, 2019, the markets will be concerned with the release of economic calendar data, which usually results in changes in price movements.
Prior to the release of the important German ZEW index and for three straight trading sessions, the EUR/USD is attempting to complete the correction above but its gains did not exceed 1.1323 before settling around 1.1302 at the time of writing.
Before the release of the German ZEW index results, the EUR/JPY pair is establishing bullishly on the resistance at 126.67, and for sessions tried to break above 126.78, on the confirmation by the two negotiating parties in resolving the fierce trade dispute between the US and China on the near final agreement to end the strongest trade war that threatens the future of global economic growth as a whole.
For the second day in a row, the USD/CAD pair is turning up to the resistance level at 1.3402 at the time of writing, after a recent bearish correction that pushed the pair towards the support level of 1.3296, as the recent global oil price rebound boosted the gains of the Canadian dollar.
More risk appetite translates into losses for yellow metal, one of the most important safe havens, which is happening now as gold prices fell to 1284 dollars an ounce at the time of writing.
Before the UK payroll and job numbers are announced, the GBP/JPY stands at 146.72 at the time of writing.
For three consecutive trading sessions, the USD/JPY pair is attempting to stabilize above the resistance level at 112.00.
The Euro rallied a bit during the trading session on Monday initially, but then turned around to form a bit of a shooting star out the 1.13 level and has offered enough resistance to turn the market around.