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 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.
The EUR USD pair went back and forth on Tuesday, essentially tracing the range from the Monday candle. The Monday candle was a hammer though, and as a result it looks like the market is ready to find buyers in the general vicinity of the 1.3650 level, which could send it higher.
The USD/JPY pair rose during the session on Tuesday, completely wiping out the losses that the market had experienced on Monday. The candle is long, tall, and green, all of which signify that we should see continued momentum to the upside. The fact that we are closing above the 104 level is strong two, as we start to take on the 105 level yet again.
The USD/CAD pair rose during the session on Tuesday, breaking the top of the hammer that had formed on Monday. This pair has been fairly parabolic of the last week or so, but that’s typical in this market as it tends to go sideways for long periods of time, and then suddenly jump or fall drastically.
The GBP/CHF pair continues to track the risk appetite of global markets as it typically will do from time to time. During the session on Tuesday, we saw the 1.4750 level offered enough support to send the market higher.
