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 session on Thursday, but as you can see found the $94 level to be supportive yet again. This is an area that has been supportive and resistive in the past, so it’s not very surprising that the market did in fact react to it.
The EUR/USD pair tried to rally on Thursday, but found quite a bit of resistance above the 1.3650 level to turn back around and form a shooting star.
The USD/JPY pair try to rally above the 105 level during the session on Thursday, but was left wanting as you can see. The resulting candle is a shooting star, and of course that is a very bearish sign.
The USD/CAD pair had a slightly negative session on Thursday, but what I found most interesting is the fact that we both the bottom of the shooting star from Wednesday, but could not fall below the 1.09 level for any length of time.
The AUD/USD pair fell during the session on Thursday, and at one point time even managed to get below the 0.88 handle, an area that I have been watching for significant support.
The WTI Crude Oil markets rose significantly during the session on Wednesday, breaking above the $94 level with ease. However, I am still a bit concerned about this marketplace going forward, simply because there is so much noise between here and the $96 level.
The EUR/USD pair fell during the bulk of the session on Wednesday, testing the 1.36 level. However, this area is the beginning of significant support going all the way down to the 1.3550 level, and as a result it’s possible that the buyers will more than likely push this pair back up.
The USD/CAD pair rose during the session on Wednesday, but as you can see struggle to get beyond the 1.10 level. This is an area that I have been talking about for some time, and it was in fact my target.
The XAU/USD pair (Gold vs. the American dollar) fell two days in a row as some investors continued to cover their long positions after the latest reports released from the Unite States fueled expectations that the Federal Reserve will continue trimming monetary stimulus at this month’s meeting.
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The price is above the key support level found at 103.00. This is where the market spawned a bearish false break and has created a nice, long price action signal.
Gold prices ended yesterday's session lower after encountering resistance around the 1255 level, which happens to be the bottom of the Ichimoku clouds on the daily chart.
The WTI Crude Oil markets rose during the session on Tuesday, showing that the $91.50 level continues to offer a bit of support.
