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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This pair did rebound by resistance level which initiated further downside movement.
The Kiwi declined the most against the Greenback last week, compared to the rest of the G-10. On October 28th the RBNZ kept rates on hold.
EURUSD negative trend stays active, despite the jumping back and forwards, this pair has more chances to slide downside.
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The EUR/USD bounced off 1.4850 on Nov 2nd and as I write this is climbing back up from 1.4775. Bollinger Bands, Full Stochastics, StochRSI and RSI on a daily chart say a slow climb up is still to come.
Even though this pair did fall down, this movement didn't change current trend state. At the moment look for buying opportunities while support level is active.
Very sharp movements downside, bears are sliding downtrend towards support level. According to previous moves, bears couldn't manage to breakout by support level.
This pair is trying to recover by jumping above support level, however this movement is not sharp and bears are still in control of situation.
The Pound has been range bound for some time. It is trading between 1.6650 and 1.61. Price action above or below those levels has lead to a number of false breakouts.
EURUSD resistance level is formed at lower level now, at 1.4856. This pair remains negative, selling actions are better to look into.
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By: Bradley C. Smith
The distance Bollinger Bands, Full Stochastics, StochRSI and RSI have strayed, tell me the EUR/USD is oversold on the daily and 3 hour charts.
Bears and bulls have calmed down and low trading range is formed for this pair at the moment.
No power at all, bulls and bears are sleeping by the support level.
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Support level stays as major factor for bears, this is a strong barrier in order to continue its current movement downside.
Resistance level looks like is very strong barrier for bulls, potential breach by this level couldn't occur. While this barrier holds, bulls have issues in order to extend their current uptrend movement.