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 XAU/USD pair is trading in a relatively tight range during the Asian session today. Yesterday the pair tried to break below 1268 but more dovish comments from top Federal Reserve officials helped buyers to defend this support level.
Last week’s action is interesting. The price came down to the support zone, breaching 1.5583 and forming a new low just above 1.5850, before rising sharply. The pair closed the week near its high, printing a bullish outside reversal candle.
Last week printed a bearish candle, closing hard on its low. It also made a third touch and rejection of a major bearish trend line.
According to the analyses of the EUR/USD and USD/CAD pairs, trader profited on a binary options platform. See how here.
The CHF/JPY pair is one of my favorite pairs in the sense that it does tend to form a very distinct range that the market will trade in from time to time.
The GBP/CAD pair initially fell during the session on Monday, but as you can see bounced enough to form a nice looking hammer.
The EUR/USD pair broke higher during the session on Monday, but as you can see failed above the 1.35 level as the resistance continues to hamper the buyers and keep them at bay.
The WTI Crude Oil markets tried to rally during the session on Monday, but as you can see were repelled yet again near the $95 level in order to pull back and form a shooting star.
The XAU/USD pair closed yesterday's session lower after three consecutive days of gains. Gold prices turned south after the bears increased selling pressure to defend the 1293 level.
Check out the weekly signal for the USD/JPY pair here.
According to the analyses of the CHF/JPY and GBP/CAD pairs, trader profited on a binary options platform. See how here.
Check out the weekly Forex forecast for the week of November 18, 2013 here.
Last week produced a bullish inside candle that closed close to its high. The action has reversed from the 50% Fibonacci retracement level of the recent upwards move, and at the end of last week broke above the weak resistance from 1.3440 to 1.3465.
The USD/JPY pair went back and forth on Friday, but the market still looks like it wants to go higher based upon higher time frame charts such as the weekly. Having said that, I'm still bullish of this market although there is the possibility that we get a little bit of a pullback here.
The GBP/USD pair rose during the session on Friday, breaking the top of the neutral candle that we had printed on Thursday.
