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 had a very strong showing on Wednesday, finally breaking above the $96 level, an area that I have five to be somewhat resistive. Now that we have closed above that area, I believe this market continues to go much higher, possibly to the $100 level although there is a lot of noise between here and there.
The EUR/USD pair try to rally during the session on Wednesday, but as you can see struggle above the 1.3550 level. Because of this, it appears that the Euro is going to suffer again, but the real question is whether or not we can get below the 1.35 handle.
The USD/JPY pair initially fell during the session on Wednesday, but as you can see the 104 level has offered support yet again. This support cause the market to bounce hard enough to form a very positive looking candle.
The AUD/USD pair had a pretty strong showing during the day on Wednesday, as we cleared the 0.88 level. This area has been resistive recently, but the market has gone back and forth in this area enough to perhaps take some of the psychological strength out of it.
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Gold prices (XAU/USD) fell yesterday as the bears managed to defend the 1255 resistance level. The XAU/USD pair traded as low as $1235.58 an ounce after the support at 1245 was broken.
The WTI Crude Oil markets rose during the session on Tuesday, breaking above the $95 handle again. The fact that we broke above $95 is of course somewhat impressive, but I need to see this market break above $96 in order to be thoroughly convinced that the buyers have taken control.
The EUR/USD pair fell initially during the session on Tuesday, but as you can see found enough support just above the 1.35 handle in order to bounce and form a hammer.
Check out the weekly signal for the USD/CAD pair here.
According to the analyses of the EUR/USD and GBP/USD pairs, trader profited on a binary options platform. See how here.
