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.
The EUR/CHF pair rose during the course of the session on Thursday, after initially falling. By breaking well above the 1.05 handle, the market looks like it is getting ready to go towards the 1.06 handle, which is where I think that the market truthfully breaks out
The NZD/USD pair initially tried to rally during the course of the session on Thursday, but found enough resistance at the 0.67 level to turn things back around and form a shooting star.
The EUR/CAD pair broke higher during the session on Thursday, as we continue to see the uptrend in this pair. The Euro has been breaking higher all day, and as a result it makes perfect sense that we should continue to go higher.
The GBP/USD pair initially tried on Thursday, as the 1.57 level offered far too much in the way of resistance. The market fell significantly at that point in time, and crashed into the 1.55 level.
Gold prices initially rose during yesterday's Asian session but the market encountered resistance around the $1103 level as sellers stepped in.
Statistics show that entering trend trades during the summer months is a fruitless quest with a negative expectancy. The old cliché “sell in May and go away” seems to be based on cold hard facts. Let’s take a look and what has been moving and try to find out the reasons why.
During the session on Wednesday, the CAD/CHF pair fell during the course of the day. Granted, it wasn’t a massive move lower, but the one thing that I am cognizant of is the fact that the Canadian dollar itself is getting pummeled as the oil markets simply cannot rally at all.
The GBP/CAD pair found quite a bit of bullish pressure to the upside during the day on Wednesday, as we made a fresh, new high.
The USD/MXN rose during the course of the session on Wednesday, breaking above the 16.11 level. This coincides nicely with a significant breakdown in the oil markets, as we found ourselves trading below $50 for the first time in ages.
The NZD/USD pair broke down below the bottom of the shooting star from the previous session on Wednesday, triggering a classic sell signal as far as I am concerned.
The NZD/JPY pair broke down during the course of the session on Wednesday, clearing the bottom of the shooting star from the Tuesday session.
The GBP/AUD pair bounced during the session on Wednesday, using the 2.10 level as support. With this, it looks like the market is ready to continue going higher given enough time, and I believe that the pair will target the 2.1250 level yet again.
Check out the USD/CHF Forex signal for July 23, 2015 here.
Check out the GBP/USD Forex signal for July 23, 2015 here.
Check out the EUR/USD Forex signal for July 23, 2015 here.
