The EUR/CAD has been trading into a triangle formation on the daily chart which last Friday produced a Bearish Pin Bar Reversal candle. The high also formed the third touch in a potential descending trendline.
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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.
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The EUR/USD pair did almost nothing during the session on Monday, which of course would have been much of surprise as the Americans were away on Memorial Day holiday, and the Brits were celebrating something known as the "Spring Bank Holiday."
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The USD/JPY pair did almost nothing during the session on Monday, mainly because of the lack of liquidity that we would've seen coming out of both America and the United Kingdom.
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The AUD/USD pair did almost nothing during the session on Monday, as the Memorial holiday would've had the liquidity down in the United States.
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The XAU/USD pair rose for the week but the bulls continued to encounter heavy resistance around the 1400 level.
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The USD/JPY pair fell during reckless trading on Friday, pulling back to the 101 handle.
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The EUR/USD pair shot straight up during the session on Friday, but as you can see the 1.30 level has yet again offered enough resistance to keep the pair down.
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The EUR/GBP pair tried to rally during the session on Friday, but as you can see the 0.86 handle offered resistance yet again. This market has been stuck in this consolidation area for some time now
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The WTI Crude Oil market went back and forth during the Friday session, stopping just below the $94.00 level. This area is fairly congested, but the real consolidation in my opinion is between the $92.00 level below, and the $97.00 level above.
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This pair continued to grind sideways most of the week, as the range between 1.28 and 1.30 continued to hold the market.
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The EUR/JPY pair fell during the session on Thursday, as the Chinese HSBC Flash PMI numbers came out just under 50.
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The WTI Crude Oil markets fell rather drastically during the session on Thursday, but you can also see that they rallied during the later hours in the American session.
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The GBP/USD pair bounced off of the 1.50 handle during the session on Thursday, confirming what I had anticipated over the last couple of sessions. This area of course offer significant support
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The EUR/USD pair bounce during the session on Thursday, just as I suspected it would. Quite frankly, the 1.28 level looks very supportive, and I have a hard time believing that the market is going to easily break down below it.
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