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's very bullish day for the EUR/USD was very surprising to me since at the time I was writing my analysis it was in a very, very tight range and the previous day's volume was only half of what it normally is but yesterday's price action made up for all that since yesterday's range was around 140 pips, 20 pips more than the average day for this pair.
The EUR/JPY still keeps looking almost exactly like the EUR/USD but then this is expected since lately it has had close correlation with the EUR/USD and today both pairs are very closely correlated. Yesterday's rally up pushed the weekly candle up quite a bit getting it closer to the weekly 5 ema.
Yesterday was quite a down day for the Swissy. On the daily time frame yesterday's daily candle poked the 21 ema just a bit and that does not mean it will fall, it could just be a touch that will push this pair back up, however, the 5 ema is beginning to point down and looks like it could cross below the 13 and cave in on price forcing it down.
Yesterday was quite a day for the EUR/GBP. It took me by surprise since the volatility was very low and the market simply went from one extreme to the other. I think the big move yesterday was mostly due to fundamentals and Switzerland and the Swiss pairs were mostly effected.
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Of all the pairs I have analyzed tonight the GBP/USD seems to be the only pair that has been showing any signs of activity. It had an 80 pip range when some pairs barely had 60 or even 40 pip ranges. On the weekly time frame price is trying to reach up to the 5 ema.
Yesterday was a very low volatile day for the EUR/USD. Only have the volume it normally has, it only moved like 61 pips according to my calculations. Normally this pair moves 100 - 120 pips on a given day.
Yesterday was an exceptionally weak day for the EUR/JPY. Only a 37 pip day for this pair. Last few trading days we have been in a tight range and not really going anywhere.
The Swissy like some other pairs has been in a range for the last few days. Could be due to all the volatility from last week and price just may need to settle a bit before it continues on but I am sure a lot has to do with thinner than normal trading conditions due to the holiday season.
The EUR/GBP has been nearly perfectly range bound for the last 4 days. Most likely just consolidating after the very bearish and fundamental week we had last week.
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The GBP/USD starts out its new week in between the 5 ema and what has been strong visual support around 1.5350 so it will be very interesting to see what happens with this pair.
The EUR/JPY and EUR/USD are closely correlated today...but what does this mean for your Forex trading today? Find out here!
The EUR/GBP begins the new week 80 pips below the weekly 5 ema and at the bottom of the Bollinger band. Price is however making its way down to a which has been respected as support and resistance a few times in the past I expect it to be respected again.
The new week for the Swissy starts out below the 50.0 fib line it broke last week, however, this pair still looks bullish to me. Price is still above the 5 ema and it can just keep heading up until it reaches the 144 ema around .9750 then drop.
