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 WTI Crude Oil markets tried to rally after gapping higher on Wednesday, but as you can see gave back most of the gains by the end of the session. The result of this of course was that the market formed a shooting star, which of course is a very negative sign.
The EUR/USD pair tried to rally initially during the session on Wednesday, but as you can see we couldn’t even get back to the 1.3750 level in what was a relatively tight trading range.
The EUR/NZD pair has been in a nice downtrend for some time now. Quite frankly, the 1.58 level has been a bit port of, but we are now closing with a fresh, new closing low.
The GBP/USD pair initially tried to rally during the session on Wednesday, but as you can see ran into enough resistance in order to push the market back down. The fall from there ended up turning the markets around and testing the 1.6750 handle, an area where significant support comes into play.
The EUR/JPY pair fell during the bulk of the session on Wednesday, breaking below would could be considered a reasonably decent trend line.
Check out the Forex signal for the USD/JPY pair here.
Check out the Forex signal for the GBP/USD pair here.
Check out the Forex signal for the EUR/USD pair here.
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When we look at the forex markets as a whole, some interesting trends have developed in the first half of this year. Most of the activity as focused on the US Dollar, which is not entirely surprising given the fact that the greenback tends to define many of the larger trends that are present in the market.
Gold prices (XAU/USD) ended yesterday's session with a loss as strength in the U.S. dollar and equities markets lured some investors away from the precious metal.
The WTI Crude Oil markets rose during the session on Tuesday, testing the $102 level, which was the initial target that I had set.
The EUR/USD pair fell hard during the session on Tuesday, testing the 1.37 level. The 1.37 level did in fact told support though, and as a result it has caught my attention.
The cable pair fell during the session on Tuesday, testing the 1.68 level. This area has been resistance in the past, so now I suspect that the market should offer support.
The EUR/JPY pair tried to rally during the session on Tuesday, but as a result of selling pressure, we ended up falling back down towards what I am starting to see as a potential trend line.
