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 USD/JPY pair is without a doubt the most important pair in my opinion for the session today. This is because the US Presidential elections will be held, and this pair is without a doubt one of the most sensitive to the potential outcome.
The USD/CAD pair had a relatively back and forth session with a slight gain on Monday. As you can see by the chart, we hovered just below the 200 day exponential moving average, and are above the 0.99 support level.
The GBP/USD pair fell during the session on Monday as we peeked back down below the 1.60 level. Looking at this pair, you can see that has been quite a fight lately and it does seem to be centered on some type of support zone at the 1.60 level.
The GBP/AUD has broken a key support level only minutes after the RBA announced that the Cash Rate would remain unchanged at 3.25% instead of lowering it to 3.00% as expected.
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The EUR/USD pair fell precipitously during the Friday session after the nonfarm payroll numbers out of the United States came in much stronger than expected.
The GBP/USD pair had a very weak session during the Friday trading hours, as would have been suggested by the shooting star that we had formed on Thursday.
The USD/CAD had an odd day on Friday. There was both a US jobs number, and a Canadian one. The US jobs number came out much stronger than expected, while the Canadian one came out weaker than expected.
The EUR/AUD finished last week with a Pin Bar Reversal pattern that printed on a weekly Support Zone at 1.2900. The zone has held off the advance of both the Bears and the Bulls in the past 3 months with the Bulls taking about 8 trading days to crack the level and trade higher back in September.
With the upcoming US elections this week, some major pairs may be affected. Get the weekly Forex forecast for these pairs and plan your week accordingly.
The EUR/USD pair fell during the session again on Thursday as the weakness in the Euro continues. It has become obvious that the 1.30 is the beginning of serious resistance, and in my opinion runs all the way to the 1.35 level.
The NZD/USD pair shot straight up during the Thursday session as the "risk on" attitude came back into the global marketplace. We managed to break above the 0.8225 level, which we had as a minor resistance, and now looks set to try and reach the top of the overall consolidation at the 0.8350 level.
The GBP/USD pair initially rose during the session on Thursday, as we accelerated the uptrend to reach above the 1.6150 level. However, by the end of the session we saw a significant pullback and a loss of the gains in a very short order.
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