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 EUR/USD pair did very little during the session on Monday as one would anticipate, simply because the Americans were away before Memorial Day. That being the case, the market really didn’t do too much in the way of making a decision, which should change today.
The WTI Crude oil markets initially fell during the course of the session on Monday, but as you can see we are still stuck just above the $58 level.
The EUR/CAD pair fell initially during the course of the day on Monday, but turned back around to form a slight hammer. Nonetheless, when I look at this pair I recognize that we could possibly be trying to form a little bit of an inverse head and shoulders.
Get the AUD/USD Forex signal for May 26, 2015 here.
Get the USD/JPY Forex signal for May 26, 2015 here.
Get the GBP/USD Forex signal for May 26, 2015 here.
Get the EUR/USD Forex signal for May 26, 2015 here.
Gold started the week slightly higher but remained within a narrow trading range as liquidity was thin due to due to public holidays in the United States and the United Kingdom.
Get the weekly Forex forecast using quant vs chart reading methods for the week of May 25, 2015 here.
The EUR/USD pair broke down during the session on Friday, as the US dollar showed real strength over all. The market is now testing a seriously important area, and the Euro will have to make its intentions known soon.
The GBP/USD pair fell hard on Friday, testing a serious support level in the form of the 1.55 – 1.54 range. This is the area that we broke out above recently to free the Pound to reach for the 1.58 level.
The WTI Crude Oil markets fell again on Friday, as the US dollar in general saw buying pressure. Because of this, I believe that we are presently “taking a break” from the incredible amount of effort it took to break out to the upside in the oil markets.
Gold prices settled at $1205.44 per ounce, falling nearly 1.5% over the course of the week, as gains in the dollar sapped demand for the metal.
Get the weekly Forex forecast for the week of May 25, 2015 here.
The EUR/USD pair went back and forth during the course of the day on Thursday, testing the 1.11 level for support. The area below all the way down to the 1.10 level continues to offer support as well, and as a result it’s probably only a matter of time before the buyers step in.
