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/USD pair initially fell during the course of the day on Thursday, but as we did on Wednesday, we ended up bouncing enough to form a hammer. This hammer tells me that there is significant buying pressure below, but I have to worry about the 1.10 level above.
The USD/JPY pair initially went higher during the course of the day on Thursday, but found enough resistance near the 124.50 level to turn things back around and form a bit of a shooting star.
The USD/INR pair is one that a lot of you probably don’t trade. After all, the Indian rupee is a fairly exotic currency, but it is also a reflection of the Asian growth as well as emerging markets in general.
The EUR/GBP pair broke higher during the course of the session on Thursday, slamming into the 0.7150 level. This is an area that was supportive recently, so the fact that we bounced to this area suggests to me that we are going to have a little bit of a fight on our hands today.
The TRY/JPY pair fell initially during the course of the session on Thursday, testing the 46.50 level for support yet again. That being the case, the market forming a hammer of course suggests that we are going to have buying pressure soon.
The market had an interesting session on Thursday as the battle between the bulls and bears for supremacy intensified.
The EUR/USD pair fell initially during the day Wednesday, and even reached towards the 1.08 handle. However, we did find enough support to turn things back around and form a hammer.
The USD/NOK pair initially shot higher during the session after a short-term pullback, but Wednesday ended up printing a relatively bearish reversal signal.
The AUD/NZD pair fell during the session on Wednesday, going as low as 1.06 at one point. However, the market did in fact find support below and bounced slightly.
The GBP/AUD pair continued to grind higher during the session on Wednesday, but as you can see pullback slightly from the 2.00 level.
The EUR/CHF pair has been a pair that could quite frankly put you to sleep if you didn't know what you are looking at. After all, it is a pair that has a fairly tight range most of the time, but that is a quick way to make money if you pay attention.
Get the AUD/USD Forex signal for May 28, 2015 here.
Get the USD/JPY Forex signal for May 28, 2015 here.
Get the GBP/USD Forex signal for May 28, 2015 here.
Get the EUR/USD Forex signal for May 28, 2015 here.
