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.
Starting out my analysis for this pair on the daily chart price is still riding the 5 ema up but has come into contact with the 233 ema. This of course will cause a bit of a pullback on a lower time frame but ultimately I believe price will continue on until 1.4 before it hits any major resistance.
After trading sideways for over a week between 78.07 and 79.58, this pair appears to be breaking to the upside with today's bullish candle closing above the decending trend line at 79.60.
Today the EUR and GBP appear to be weak against the CHF. I start out my analysis for the EUR/GBP on the daily chart and I can see the 5 ema is crossing down below the 13, 21 and 233 ema's and the stochastic is pointing down.
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Starting out with the weekly chart I see a combination of bearish and bullish indications. The bearish indication is that price is at a 50.0 fib level overlapped with a 55 and 21 ema.
I will start out with this pair taking a brief look at the weekly chart. Last week price fell to the 233 ema then bounced. It seems to be heading back up, however, tough resistance does stand in its way.
I start my analysis on the Swissy looking at the weekly chart. Last week was a very bearish week for this pair and at this time the 5 ema is above weekly price action with a stochastic in the overbought zone.
If we take a technical look at the weekly EUR/USD chart using Ichimoku averages, we still notice a negative bias expecting a drop in the trend due to several reasons. Get the full picture - and our weekly signal here.
For 4 weeks in a row the Sterling has closed higher than its open after dropping from the high of 1.66180 the week of August 14, 2011, to the support level at 1.5350 at the beginning of October.
Starting out with the weekly chart for this pair I just wanted to point out a few things. First of all, last week price for this pair had mostly dropped and it pierced the 55 ema and has retested.
If we take a technical look at the weekly EUR/USD chart using Ichimoku averages, we still notice a negative bias expecting a drop in the trend due to several reasons. Find out what they are and get this week's signal here.
Starting out with the weekly chart bullish conditions exist. The stochastic is crossing it's way out of the oversold zone and price is trying to catch a ride on the 5 ema.
If we take a technical look at the Weekly chart GBP/USD using Ichimoku averages, we still notice a negative bias expecting a drop in the trend due to the following reasons:
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The EUR/GBP ends the week with a bearish tone. It had appeared to me that it could break out of its range to the upside.
