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 EUR/USD pair initially tried to rally during the session on Monday, even with the low volumes during the Christmas Eve shortened holiday. The rally failing is interesting as it happened at the 1.32 handle, which is exactly one handle below the last failure.
The USD/JPY pair is one that I have been talking about ad nauseam for several weeks now. This is because I believe that we are in the beginning of a massive trend change that could last months, if not years.
The GBP/USD pair initially rallied during the session on Monday, but could not hold gains in a light volume session for the Christmas Eve holiday. The pair simply could not hold above the 1.62 level, and as a result fell back down in order to challenge the 1.61 handle and formed a shooting star.
The USD/CAD pair has been a great pair for people that are looking to range trade lately. This makes sense as the two economies are so intertwined. The fact that there is a “fiscal cliff” possibly happening in the United States will continue to hurt the Canadian dollar as well.
The CAD/JPY pair is one of my favorites currently. This is because the Bank of Japan has been very open about the fact that it is going to expand its massive monetary policy. Weakening the Yen seems to be one of the most important jobs of the central bank going forward.
The NZD/USD pair had a relatively weak Christmas Eve session on Monday, but all things being equal, you must remember that there was simply no volume. Because of this, there is it too much you can read out of the session but we can look at the totality of the chart and garner a few ideas.
XAU/USD closed slightly higher than opening but activity was subdued, as trading closed early ahead of the Christmas holiday. The XAU/USD pair (gold vs. U.S. dollar) traded as high as 1665.80 and settled at 1660.
According to the analysis of the USD/JPY and EUR/USD trader profited on a binary options platform.
XAU/USD fell for the week but found support at the 1635.50 level. The XAU/USD pair closed higher than opening on Friday as disappointing U.S. consumer confidence data and a proposal from U.S. Speaker of the House of Representatives John Boehner to avoid the fiscal cliff failed to win support from his own party increased the precious metal’s safe-haven appeal.
The EUR/USD pair has been one of the more difficult trades to be involved in until recently. I can give you 100 reasons why the Euro should be falling in value, but evidently there are about 105 why the US dollar should be falling at the same time.
I believe that the USD/JPY pair will be one of the most interesting pairs for the year 2013. Looking at this chart, I see that the 84 level has offered quite a bit of support over the last several sessions, this is especially bullish for me as I saw the 84 level as so resistive.
The NZD/USD pair fell precipitously during the Friday session as the "risk off" trade came back into play. The New Zealand dollar is one of the most sensitive currencies to rest, as it represents an amalgamation of the commodities markets in general.
The holidays this week may slow some trading down but don't let that stop you. Check out the weekly forecast of some of the major Forex pairs here.
The EUR/USD pair attempted to rally during the session on Thursday again, but just as it did on Wednesday it fell short of clearing the 1.33 handle. Looking at this chart, you can see that we've had to shooting stars in a row, and this is normally very bearish signal.
The GBP/USD pair attempted to break above the 1.63 level for the second time in the last two days on Thursday. However, it failed and it shows just how resistive this area is going to be.
