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 has been focusing on the Spanish debt markets lately, and with those ten years now offering more than 6%, concern is likely to enter the markets. The action on Monday showed no real evidence of this though, as the market sold off the Dollar on the whole.
The action over the last couple of weeks has been choppy, and with all of the concerns about the global economy slowing down, this of course would have adverse effects on commodities overall, and the oil markets in particular.
The Russian Ruble is a great petrocurrency play for Forex traders looking to take advantage of movements in the oil markets. While not all brokers offer this pair, the market is without a doubt one of the “cleanest” plays for the oil markets.
The USD/CHF appears to be forming the right shoulder of a classic Head & Shoulders formation indicting that the Swiss Currency could gain once again on the Greenback and send the Daily charts into the lower territory.
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The S&P 500 made a false break of the important support at 1370 points, but the sharp declines on Friday took the index down to the support area again, and a successful break-down this time might take it under 1340 points, which is the next significant support.
Take a look at where the major currencies like EUR/USD and GBP/USD should be heading this week, and plan your weekly Forex trading smartly.
The EUR/USD pair is one that many traders love to fight about. While a lot of people have recently wondered how this pair can stay aloft, there are many different reasons that people have come up with.
The GBP/USD pair fell hard on Friday as the “risk off” attitude came back into the markets around the world again. The pair is a great barometer of the risk appetite of global markets, and as a result I find it a great way to see where some of the other markets may go.
The NZD/USD pair has recently been bullish. In fact, the pair has been for a couple of months when compared to the other commodity related currencies. This is most obvious when compared to the Aussie dollar, as that currency fell hard over the last couple of weeks while this one went sideways.
Taking a little excursion into one of the more unique trading pairs to start off the trading week, we will have a look at the GBP/AUD. Last week the pair tested the same high as the week before and broke it by 10 pips, making a new high of 1.55008 as well as a lower low at 1.52583.
The NZD/USD pair is one of the most favored pairs when it comes to expressing the risk appetite of traders.
