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.
On the attached chart, you can see that the EUR/CAD pair had a rough week to end the month of March. However, you can also see that I have the 1.50 level drawn just below there on the chart with a horizontal red line, which I believe will serve as a bit of major support for this marketplace.
The GBP/USD pair had a good showing towards the end of the month in March, but as you can see we found support at the 1.65 level again, which of course is vital to continue the uptrend in my opinion.
The NZD/USD pair has been going gangbusters lately, as the move has been relatively parabolic to the upside. The fact that we broke above the 0.85 level is of course important to me, as it is a large, round, psychologically significant number.
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Gold prices fell 3% for the week but managed to hold just above the bottom of the Ichimoku cloud on the daily time frame. During Friday's session, the XAU/USD pair initially fell to a 6-week low of 1285.68 before recovering to 1292.67.
The WTI Crude Oil markets try to rally during the session on Friday, and although we did finish with a positive close, we ended up forming a shooting star as well that is based on the $102 level.
The EUR/USD pair initially fell during the session on Friday, but the 1.37 level offered enough support to turn things back around and cause a significant bounce. This bounce of course formed a hammer, which is also right at a cluster that we had seen during the month of February.
The USD/CHF pair tried to rally during the session on Friday as you can see, but failed and formed a wicked looking shooting star. There have been several shooting stars lately, which I essentially believe are centered on the 0.8850 level.
The USD/JPY pair rose during the session on Friday, breaking through a significant amount resistance in the neighborhood of the 102.50 level.
The AUD/USD pair initially rallied during the session on Friday, but as you can see pulled back in order to form a shooting star.
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 Forex forecast for some of the major pairs here.
In order to make my free signals on the major pairs easier to read and understand, I am setting out here my trade entry criteria in detail.
Check out where the NZD/USD pair is headed this upcoming quarter with the Forex forecast here.
