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 broke higher during the course of the session on Friday, clearing the 1.08 level. Because of this, I believe that the market is going to try to reach towards the 1.10 handle, but I recognize that there is a significant barrier of resistance in that area.
Gold ended the week down by 2.15% at $1178.91 per ounce as gains in equity markets increased investors' appetite for risk and dented demand for safe-haven assets.
Get the Forex forecast using quant and chart reading for some of the major currency pairs for the week of April 26, 2015 here.
Get the weekly forecast for some of the major Forex pairs for the week of April 26, 2015 here.
The EUR/USD pair initially fell during the session on Thursday, but found a little bit of support below the 1.07 handle. By doing so, the market broke back above the 1.08 handle, which of course is a fairly bullish move.
The USD/CHF pair is a market that has been interesting over the last couple of sessions. After all, the Swiss National Bank changed its policy as far as negative interest rates are concerned, imposing them on financial institutions that had recently been exempt.
The USD/JPY pair initially tried to rally during the session on Thursday, but turned back around and fell to the 119.50 region. I don’t think of this as anything significant though, because the US dollar itself is favored over the Japanese yen.
The EUR/JPY pair initially fell during the day on Thursday, but like most other euro related pairs, found buying later in the day. With that, we went much higher and broke above the short-term resistance that the market had been struggling with over the last several sessions.
The NZD/USD pair initially fell during the course of the day on Thursday, but found enough support near the 0.7550 reason to turn things back around completely, and form a nice-looking hammer.
Gold ended higher on Thursday, recouping some of yesterday's losses, as disappointing U.S. economic data pressured the dollar.
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Gold fell to its lowest level in six sessions on Wednesday as the greenback rallied across the board following better than expected housing data.
The USD/JPY pair initially fell during the day on Wednesday, but found enough support below to turn things back around and form a very bullish candle.
The New Zealand dollar initially rallied during the day on Wednesday, but found the 0.7750 level above to be a bit too resistive yet again, and pulled back to fall significantly.
The EUR/USD pair tried to rally during the session on Wednesday, but gave back all of the gains in order to form an unchanged candle.
