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 USD/CAD pair initially fell during the session on Monday, but as you can see we ended up bouncing enough to form a hammer based upon the 1.0850 level. This is an area that has been rather supportive recently, not to mention the fact that we had formed a fairly supportive looking candle last week.
Check out the weekly signal for the GBP/JPY pair here.
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So far this month, some of the biggest moves in the forex markets have been tied to the Euro. The EUR/USD had previously posted a steady advance toward the 1.40 mark but changing central bank expectations led to sharp bearish reversals.
Although the XAU/USD pair settled lower on the last trading day of the week, the weekly candle was slightly positive. Gold prices rose 0.3% over the course of the week while the market remained within the last 4 weeks trading range.
The WTI Crude Oil market did very little during the session on Friday, essentially carving out a range between the $101 level on the bottom, and the $102 level on the top.
The EUR/JPY pair had a relatively volatile session on Friday, testing an uptrend line that I have been watching for some time now. However, it appears that it held, just as the 139 support level held.
The USD/JPY pair went back and forth on Friday, essentially printing a neutral candle. We still see the 101.25 level as a significant support level as noted on this chart, but at the end of the day I think that ultimately this could be the market trying to form some type of a “floor” in the pair.
The USD/CAD pair tried to rally initially during the session on Friday, but as you can see the small cluster just below the 1.09 level held enough resistance and it to keep the market down a bit.
The AUD/USD pair has done very little during the last several sessions, basically hanging around the 0.9350 level. With that, the market seems like it’s trying to contemplate its next move. For myself, I fully believe that this market is going to go higher, but is going to do it at its own pace.
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.
Check out the Weekly forecast for some of the major Forex pairs here.
The XAU/USD pair (Gold vs. the Greenback) closed the day lower than opening as the bulls failed to overcome the resistance at the 1307 level and after a series of U.S. economic data came out stronger than expected.
