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 fell during the majority of the session on Thursday, finding the $101 level to be significant resistance. With that, the reality is that the market probably fell slightly because the $101 level has been support and resistance in the past.
The EUR/NZD pair tried to rally during the session on Thursday, but the Euro got beat down against the New Zealand dollar, as it was against most other currencies.
The GBP/USD pair initially tried to rally during the session on Thursday, but as you can see the sellers stepped back into the marketplace and pushed the market down.
The USD/JPY pair fell during the session on Thursday, but found the 101.50 level to be supportive yet again. This is an area that has been supportive time and time again, but at the end of the day we recognize that the candle close towards the bottom of the range.
The USD/CAD pair fell hard during the session on Thursday, breaking below the 1.0850 level, and more importantly making a fresh, new low.
Gold prices fell 1.4% on Wednesday, extending their losses to a second straight session, on technical selling and signs of stabilization in the risk environment.
The WTI Crude Oil markets had a strong showing on Wednesday, breaking above the top of the shooting star from the Tuesday session. This of course is a very positive sign, and as a result I believe that this market is going to try to reach the $102 level in the short term.
The EUR/USD pair fell a bit during the session on Wednesday, as the market is starting to run into significant resistance.
The USD/JPY pair fell during a quite a bit of the session on Wednesday, but as you can see on the chart attached to this article, we found support below at the 101.50 level yet again.
The USD/CAD pair did very little during the session on Wednesday, as we continue to hover just above major support. When you look at this chart, you can see that the 108.80 level has been supportive a couple of times in the past, and as a result we are testing the very bottom of the larger consolidation area.
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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The XAU/USD pair posted first loss in three days but managed to close above the 1307 level. The pair traded as low as $1304.22 an ounce but prospect of a civil war in Ukraine pushed down stocks on major world markets and drove up buying of safe-haven gold.
