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/JPY pair initially fell during the session on Friday, but as you can see rose higher by the end of the day. The shape of the candle is more or less a hammer, and as a result I believe that this market is going to continue going higher now.
The USD/CAD pair fell initially during the session on Friday, but bounce just above the 1.06 level in order to prove that level to be supportive yet again. Lately, we have been bouncing off of the 1.06 level and testing the 1.07 level for resistance.
The GBP/USD pair had a massive move higher during the session on Friday, breaking through the 1.65 level finally. However, we could not stay above that level, and that just shows that there is a significant amount of selling pressure above that handle.
Check out the weekly Forex forecast for the end of the month, and year here.
In a Forex forecast made in October of 2013, Christopher Lewis made some predictions for the quarter. Was he right? Find out here.
Gold prices settled higher yesterday but failed to hold above the 1213 resistance level. The XAU/USD pair has declined approximately 28% since the beginning of the year and is set to post its first annual decline in thirteen years.
The WTI Crude Oil markets had a positive session on Thursday, as traders came back from the Christmas break. The market of course closed above the $99.50 level, which is a slightly significant when for the buyers, as it has kept the buyers at bay for a few sessions.
The EUR/USD pair rose during the session on Thursday as traders came back from the Christmas holiday. What I find most interesting though is the fact that I had drawn an uptrend line on this chart a couple of sessions ago, and it appears that we are in fact honoring it.
The USD/JPY pair rose during the session on Thursday as traders came back from the Christmas break. We are now approaching the 105 level, the area that I had targeted initially as where the buyers would drive the market to.
The USD/CAD pair fell during the bulk of the session on Thursday, but as you can see found a bit of support just above the 1.06 handle again. The resulting action formed a hammer, this hammer of course suggests that the consolidation will continue going forward.
The EUR/JPY pair rose during the session on Thursday, breaking well above the 143 handle for the first time in ages. You can see that we have been struggling to get above it over the last couple of weeks, so this of course is a very bullish sign.
The WTI Crude Oil markets were obviously closed for the Christmas holiday, but as you can see the markets have been hanging about the $99 level recently.
The EUR/USD pair fell on Tuesday, but bounced off of what I perceive as a nice uptrend line. However, Wednesday of course was Christmas, so therefore there was no trading.
In a Forex forecast made in March of 2013, Christopher Lewis made some predictions for the quarter. Was he right? Find out here.
The EUR USD pair has been trapped in a relatively sizable range for several weeks now, and going into the month of January I do not expect to see a whole lot of change to that pattern.
