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 CAD/JPY pair fell during the session on Friday, but as you can see found enough support at the 92 handle in order to bounce and form a hammer for the second day in a row. This is a pretty strong sign, and because of that I believe that this pair is in fact going to go higher.
The GBP/USD pair initially tried to rally during the session on Friday, but as you can see gave back all of the gains as it appears the 1.67 level is starting to offer significant resistance.
The USD/CAD pair rallied during the session on Friday, but as you can see gave back most of the gains in order to form a shooting star. The shooting star looks like it is in reaction to the 1.12 level, an area that I had anticipated been resistive again.
Check out the Forex signal for the GBP/USD pair here.
Check out the Forex signal for the EUR/USD pair here.
Check out the weekly Forex forecast for some of the major pairs here for the week of February 24, 2014.
The WTI Crude Oil markets initially fell during the session on Thursday, but found enough support above the $102 level in order to bounce and form a hammer.
The EUR/USD pair went back and forth during the session on Thursday, and a fairly volatile session. At the end of the day, we closed just slightly negative, but what I find most interesting is the fact that we did end up showing the 1.37 level as being supportive.
The GBP/USD pair fell during the session on Thursday, but only after banging around for some time. The session was essentially flat, the selloff being very minor.
According to the analyses of the USD/JPY and GBP/USD, trader profited on a binary options trading platform. See how here
Gold weakened against the American dollar for a second session on Wednesday after minutes from the Federal Reserve's January 28-29 policy meeting showed the central bank intends to continue the steady reduction in the pace of its asset purchases unless the economy deviates substantially from its expected path.
The WTI Crude Oil market continues to gain ground as the Wednesday session was positive as well. We closed just below the $103 level, but it’s now obvious that the $102 level is going to bring in more buyers.
The EUR/USD pair fell slightly during the session on Wednesday, showing that there was indeed resistance above as I had suspected in yesterday’s article. However, I can’t say that this pair is one that I want to sell at the moment either, as the 1.37 level could very well be supportive now.
The GBP/USD pair went back and forth on Wednesday, essentially settling nothing by the end of the session. With this, it appears that the sellers might be running out of room and steam to continue to push this market lower.
The USD/JPY pair spent a lot of the session on Wednesday falling, but also found enough support at the 102 level in order to form a hammer for the day.
