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 GBP/USD begin its day today just below the daily 5 ema. For the past couple weeks this pair has been caught in a range between 1.5570 - 1.5776 On the 4 hour time frame price has been riding the 5 ema down and recently the 5 ema has crossed below the 13, 21 and 55 ema's.
Today price opens up just below the daily 5 ema. Price touched the 5 then dropped. Price opened up outside of the triangle trap price had been previously trapped in.
In yesterday's analysis I had forecasted that there was a lot of support in various forms at around.8518 and more than likely price would reach that level and bounce. Well I was slightly off, price went beyond .8518 and all the way down to .8495 then it made its bounce and went straight up and closed at .8533
Yesterday price managed to stay above the 5 ema but I must say this pair has been stuck in the same range for a couple weeks and doesn't appear to want to trend up or down.
The USD/CAD has reacted off of the weekly support zone at 1.0093 with bullish tendencies and is now attempting to push higher. At time of writing, (about 1pm Tokyo time), we see the loonie pushing as high as 1.0257 and appears to be trying to keep the bullish momentum from the USA session going.
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The GBP/USD kicks off the new trading day just above the daily 21 ema with a 5 ema trying to cross above the 13 ema and a daily stochastic pointing up, however, price is also caught in a fib zone to the downside and price is right in the 38.2 fib level of the last move down.
Currency: USD/CHF Trend Expected Direction: Choppy Strategy: Elliott Waves and Fibonacci Trading.
The EUR/JPY begins the new trading day just below the 21 ema on the daily time frame with an upper Bollinger band heading down and the stochastics trying to cross down. The 5 and 13 ema's are tangled together indicating this pair has not been doing much on the daily level.
The EUR/USD begins its day just below the 13 ema. For the last couple days the EUR/USD keeps printing a Doji candle. I am long term bearish for this pair bit on the short terms it has been a little unpredictable.
The Swissy still maintains its position above the 5 ema on the daily time frame for yet another day. The Swissy seems to be building strength.
With the EU summit coming up on Friday, the markets have been choppy at best. The trading action is getting tight, and traders simply aren’t interested in going too far out on the risk spectrum as the announcement is coming in just a few short days.
The EUR/GBP starts the new day off just above a visual support zone at around .8518 Price has not been able to close below this level since earlier this year. It may have pierced this level a couple times but hasn't really closed below with one exception last month where it closed below but bounced right up and keeps bouncing off it every time it touches it.
The news is volatile, but with this EUR/USD expected movement forecast, you can plan your next Forex trade.
See how a trader used today's Forex technical analysis to profit on a binary options platform.
