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.
Yesterday Gold, like many other pairs started out with bearish intentions but finished off with a more bullish attitude. Gold fell to a daily low of 1589.30 prior to Fed Chairman Bernanke's speech in the US and rose dramatically immediately after to form a Daily Pin Bar
After it’s meeting early last week, the Eurogroup came up with a rescue fund for Cyprus, approved by the EU/IMF. Part of their requirements for the loan deal is for levies to be slammed on all Cypriot bank accounts. Check out this weekly analysis for the EUR/USD pair here.
Some of the major pairs had positive weeks last week, others did not fare well. Check out the weekly Forex forecast here and see what it can mean for your upcoming trades here.
Start your trading week with a Forex signal for the EUR/NZD pair here.
The WTI Crude market had a positive showing on Friday, as we rose above the $93.00 level, and almost reach the $94.00 level. The area that we are currently trading in has been rather consolidative, and as a result the market has been very tight.
Although the XAU/USD pair settled lower on the last trading day of the week, the weekly candle was still positive. Gold prices rose %0.6 over the course of the week as the crisis in Cyprus increased desire for the relative safety of gold.
The EUR/USD pair rose during the session on Friday, but stopped at the 1.30 level yet again. This level has acted as significant resistance lately, and this is accentuated by the gap that had formed at the open of the week.
The USD/JPY pair so bearish pressure on Friday, as the concerns of a Cypress below of continued. As a result, there was a bit of a "risk off trade” in some currencies, and of course the Yen was purchased because of its well-known safe haven status.
The EUR/NZD pair is one that most of you probably don't pay too much attention to, and that is truly unfortunate. After all, it has a decent spread, and it involves two major currencies. However, it is also a very technical currency pair as you can see by the attached chart.
2 weeks ago the GBP/USD found some support at 1.4900, and area it has found support at before, but this is now the third 'touch' of the level from a weekly perspective and solidifying the area as a true support level. The pair is now heading for a zone that will make or break the bears.
See where the USD/JPY pair is headed for the upcoming second quarter and learn what this can mean for your trading here.
End your week with a Forex signal for the XAU/USD pair here.
The WTI Crude market fell during the Thursday session, crashing into the $92.00 handle. What's interesting about this spot is that it's the top of the gap that had formed a couple of weeks ago. This means that it should, in theory at least, offer a bit of support.
Gold gained some ground against the American dollar as intensifying worries about a possible economic catastrophe in Cyprus increased precious metal's safe haven appeal. The XAU/USD pair has been resilient to the bears' attacks over the last few weeks.
The EUR/USD pair fell during the session on Thursday, which of course would have been a surprise as there are so many things going on in Europe that make most people nervous. The situation in Cyprus remains murky, and there are a lot of concerns about the banking system in that small Mediterranean country.
