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 GBP/USD pair did very little during the session on Monday, basically grinding back and forth to finish the day relatively unchanged. However, when you look at the totality of the marketplace you can certainly see that there is an underlying bid to this market.
The USD/CAD pair had a negative session on Monday, but you must remember that was Martin Luther King Jr. holiday in the United States, and this pair predominantly trades most of its volume during the North American session.
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The EUR/USD fell during the bulk of the week, and on Friday managed to close below the 1.3550 support level, an area that we have been watching
The XAU/USD pair (Gold vs. the American dollar) scored a gain of 0.94% on Friday as mixed economic data out of the United States continued to lure some investors back to the market.
The WTI Crude Oil markets had a positive session on Friday, but found enough trouble above the $95 level to have me a bit concerned about any bullish moves coming.
The EUR/USD pair fell during the session on Friday, breaking down below the 1.3550 level. This is an area that I have been talking about for some time now as I believe it is very supportive.
The GBP/AUD pair rose during the session on Friday, breaking above the 1.87 level. This is a market that has been in a very strong uptrend, and this of course makes sense considering how the British pound has done fairly well against most currencies around the world recently.
The NZD/USD pair fell hard during the session on Friday, and as a result it looks like the New Zealand dollar is going to face a little bit of selling pressure in the short-term. This market has been very difficult to trade recently, simply because we have been chopping around in a roughly 250 PIP range.
The USD/JPY pair did almost nothing during the session on Friday, but this still is one of the markets that I’ve been paying the most attention to, as I believe we are setting up for a nice long-term move over the course of the next several months, if not years.
Learn where some of the major Forex pairs are headed with this weekly forecast here.
