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 USD/NOK pair had a positive session during the day on Friday, as we continue to see upward pressure on the US dollar. After all, the Norwegian krone is going to be tied to the oil markets which of course have been very soft lately to say the least.
The AUD/USD pair broke down during the course of the session on Friday, finally clearing the 0.80 level and giving it the opportunity to fall with significant momentum.
The NZD/USD pair initially tried to break out to the upside during the session on Friday, but as you can see turned back around and fell drastically.
The USD/JPY pair fell during the course of the session on Friday, as the 118.50 level offered resistance. That being the case, it appears that the market should continue to grind in this general vicinity, as there seems to be a bit of confusion in the market at the moment.
The EUR/USD pair fell again during the session on Friday, as we continue to see a lot of bearish pressure entering this market. Ultimately, it appears that the pair is ready to go lower, probably heading to the 1.10 level given enough time.
Gold settled down $7.11 at $1294.32 an ounce on Friday but scored a gain of nearly 1.2% for the week as the currency turmoil in Europe and euro's sharp decline in the wake of the ECB's quantitative easing announcement sent investors toward safety plays.
Get the Forex forecast learning about quant vs chart reading for the week of January 25, 2015 here.
Get the Forex forecast for some of the major pairs for the week of January 25, 2015 here.
The EUR/USD pair broke down during Thursday trading as the European Central Bank announced the more of a bond buying program than originally anticipated.
The USD/CHF pair initially fell on Thursday, but turn things back around to form a hammer. This makes a lot of sense though, because when you look at the charts we are most certainly oversold.
The NZD/USD pair broke down during the session on Thursday after initially rallying. We find interesting about this move is that we actually sliced through the 0.75 handle, an area that I figured would be a bit more supportive than we have seen.
The USD/CAD pair initially fell during the session on Thursday, but as you can see ended up grinding higher by the end of the day.
The AUD/USD pair broke down after initially trying to rally during the Thursday session. What I found so interesting about this pair is that we are testing the 0.80 handle.
Gold prices hit the highest level since mid-August after the European Central Bank announced a more robust than expected quantitative easing program in a bid to revive the moribund euro zone economy.
The EUR/USD pair tried to break higher during the course of the session on Wednesday, but struggled above the 1.16 level as we gave back about half of the gains.
