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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EURUSD wide trading range is formed now between support and resistance barriers, trend remains negative. Even though bulls are trying to go for a reversal movement, bearish situation is strong enough to drag and decline price further downside. At the moment, waiting action is better to take while bulls calms down.
No heavy hitting news releases today, forces the Bollinger Bands, Full Stochastics, StochRSI and RSI to determine the fate of the EUR/USD. In stoic, black and white terms, the Bollinger Bands want the price to go up, the Full Stochastics want the price to go up, the StochRSI wants the price to go up and the RSI wants the price to go up.
No heavy hitting news releases today, forces the Bollinger Bands, Full Stochastics, StochRSI and RSI to determine the fate of the EUR/USD. In stoic, black and white terms, the Bollinger Bands want the price to go up, the Full Stochastics want the price to go up, the StochRSI wants the price to go up and the RSI wants the price to go up.
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No heavy hitting news releases today, forces the Bollinger Bands, Full Stochastics, StochRSI and RSI to determine the fate of the EUR/USD. In stoic, black and white terms, the Bollinger Bands want the price to go up, the Full Stochastics want the price to go up, the StochRSI wants the price to go up and the RSI wants the price to go up.
No heavy hitting news releases today, forces the Bollinger Bands, Full Stochastics, StochRSI and RSI to determine the fate of the EUR/USD. In stoic, black and white terms, the Bollinger Bands want the price to go up, the Full Stochastics want the price to go up, the StochRSI wants the price to go up and the RSI wants the price to go up.
It is January 20th, 2010 and the Dollar is back with a vengeance today. We have been keeping an eye on the Canadian dollar as it has been playing the technicals almost perfectly.
EURUSD below significant barrier at 1.4279 bears did initiate a negative trend by a sharp break. While candles remain below this level, look for selling possibilities. Bears are controlling the situation for now.
Both heavy news items for the EUR/USD pair are forecast in different directions. So lets turn to the technicals for further insight into potential possibilities for profit from this pair.
The USDJPY has been the epitome of volatility over the last year. Much of that volatility arises from the Greenbacks recent (unofficial) appointment as the financing currency for the carry trade.
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The Bollinger Bands are falling like a meteor and bringing the other three indicators with them. The Full Stochastic, StochRSI and RSI put to the daily EUR/USD chart are all aimed downward and are moving so sharply that way, they are unlikely to stop soon. Price action would dictate a retracement of course but this movement has rushed past the resistance and support levels many have put to their charts, it will stay around this level for a few more days at least.
EURUSD, resistance level at 1.4466 holds bulls from further climbing towards next resistance barrier at 1.4540. Possible channel creation for now, it can be extended back to resistance barrier at 1.4466. At the moment waiting action remains and short term bouncing between current support and resistance levels is expected.
Each indicator window, Bollinger Band, Full Stochastic, StochRSI, RSI has it's indicator bound it the centerline. Price action has pinned this pair to the 1.4400 area. The Bollinger Bands, Full Stochastics and StochRSI have come down and might, threw a retracement bring the pair up a bit, with the RSI's help, because it has been under the centerline for a long time.
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The uneventful open to this week, keeps the price action still asking for a move upward. Bollinger bands and RSI are voting for a move upward while the Full Stochastic and StochRSI windows are voting for a move downward.
The EUR shares a commonality with the Greenback. Together they form the most traded currency pair of all the pairs available to trade. Look at the largest economies that make up the global landscape and it becomes apparent why. At times it also makes it one of the more difficult pairs to trade. Volatility will often stop out even the most skilled of day traders.