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.
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The EUR/USD pair has been grinding higher over the summer as the volumes have dwindled. Now that we are starting to get many of the larger trading firms back online with full volumes, we have seen a bit of a letdown in the bullishness of the Euro.
The AUD/USD pair attempted to rally during the session on Tuesday, but again showed weakness as it approached the 1.03 level. The fact that we formed a shooting star at the bottom of such a massively bearish move concerned me for the health of the Australian dollar going forward.
The GBP/USD or “cable” pair had an interesting session on Tuesday, as it both rallied and then failed. The pair trying to get over the 1.59 level again, but failed and fell in order to form a shooting star.
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AUD/USD fell during the Monday session as volumes were a bit on the light side as the day went by. This is because of the United States celebrating the Labor Day holiday, and the fact that many of the North American firms would have been away from their desks.
EUR/USD had a slightly positive day on Monday, but let's keep in mind that the North Americans had very little volume to work with. This was because of the Labor Day holiday in the United States, and the relatively low volume that the Canadian strength of the markets.
The EUR/JPY pair had a fairly uneventful Monday, but this makes sense as the Americans were away on Labor Day. When you take that kind of liquidity out of the markets, big moves are necessarily in order.
The AUD/USD turned bullish after the RBA announced that it would leave the lending rate unchanged at 3.50%. After a relatively low volume trading day due in part to the Labor Day holiday in North America, Asian markets turned bullish with Japan releasing poorer numbers than expected for both the Monetary Base and Average Cash Earnings.
According to the analysis of the EUR/GBP and EUR/USD trader profited on a binary options platform.
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Summer is over, so that means trading should be back in full swing. Get the latest on the major pairs and see what our expert trader predicts for the coming week.
The GBP/USD closed the week above the 62 Week Moving Average again, maintaining its mildly bullish momentum for another week and re-entering the range between 1.5800 & 1.6000 that held it captive for several months in early 2012.
EUR/USD had an interesting session on Friday as it rallied fairly significantly, based upon the words of Federal Reserve Chairman Ben Bernanke at the Jackson Hole, Wyoming central bankers meeting.
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EUR/GBP is one of the most interesting Forex pairs at the moment as far as I am concerned. This is mainly because the Euro has been rallying so well against the US dollar, even though the fundamentals don't necessarily call for it.
The AUD/USD pair has closed below the 62 day moving average on a daily chart, and has now retraced 76.4% of price action since July 24. The close below the 62 Day EMA is substantial as it can be seen as confirmation of a longer term trend.