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 initially fell during the session on Monday, but as you can see eventually got enough momentum to the upside to break above the 1.38 handle, albeit just barely. At the end of the day, the market does look positive and it does look like it wants to go higher.
The GBP/USD pair try to rally for the balance of the money session, but as you can see gave back quite a bit of the gains. When I do find significant is the fact that gave back most of the gains right around the 1.65 handle, and at the end of the day formed a shooting star.
The EUR/JPY pair did almost nothing during the session on Monday, which of course isn’t much of a surprise. After all, traders are generally away from their desks, and focus more on the New Year’s holiday than anything else.
The AUD/USD pair rose during the session on Monday, bouncing off of the recent lows again. However, it’s a bit difficult to read too much into this chart, simply because Monday would have been such an illiquid session.
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The EURUSD skyrocketed last week, enjoying the low liquidity of the holidays; and after the stronger-than-expected German business confidence data strengthened investor confidence for the economic recovery in the Euro Zone.
Gold prices rose %0.9 over the course of the week after the bulls managed to hold prices above the 1200 level. But the pair formed an inside week pattern, meaning that the entire weekly trading range was within the price range of the previous week.
WTI Crude Oil rose during the session on Friday, but as you can see we more importantly broke above the $100 level. Because of this, I feel that this market will continue to go higher, and that we are about to attempt to break into the previous consolidation area from back in October.
The EUR/USD pair had a violent session on Friday, smashing through the 1.38 handle without any issue whatsoever. However, in reality I believe that this market is moving based upon the lack of liquidity, and therefore that move isn’t much to pay attention to.
