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 has been extremely strong for well over a month now. This pair has been bullish. Looking at the weekly chart I still see bullishness, but I also see that price is a ways from the 5 ema and needs to reconnect with it before it can continue to the upside.
I already have a bearish bias on the EUR which means I am bullish on the EUR/USD. Starting out with the weekly chart I see we are lifting off from the 50.0 fib level of the move up.
Looking at weekly Ichimoku Chart, we can notice that trend has entered the Cloud (Kumo) which tells us that we are going into a correction wave that makes me expect Zigzag, Flat, or combinations before trend leaves the Cloud into another major trend either upward or downward.
Starting out with the weekly chart it looks bearish off the bat. Price is approaching the 5 ema and for sure there will be a bearish reaction forcing price down adding to GBP strength. Get the full analysis here.
Trading closed last week with a really nice bearish inverted hammer on the EUR/USD pair daily chart. The candle formed at the resistance zone of 1.3450 pushing at high as 1.3524 and then closing about 75 pips lower at 1.3375, well below the resistance zone and Moving Average.
This pair is looking extremely bearish today. On the daily chart price is up against the 13 ema and is currently between the 50.0 and 61.8 Fib level of the recent drop down.
Moving over to the EUR/GBP weekly chart we see that price is coming up to the 55, 21,and 13 ema's, this is strong resistance.
USD looks stronger than ever. Looking at this pair on the weekly chart the USD looks very bullish.
EUR/JPY pair continues to look very similar to the EUR/USD and of course it would since both pairs are highly correlated with each other.
GBP/USD pair is looking as bearish as ever. We recently pierced the support line price has been hovering off of which means there will not be a double bottom.
The Euro gained some ground against the Greenback again today after finding support a few days ago at 1.3150. This is so far being confirmed by the monthly candle.
EUR/USD signal based upon Elliott Waves principles. Find your entry and stop loss now.
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As always, I start out my analysis for the EUR/GBP taking a quick look at the EUR/CHF to determine the strength of the EUR.
This pair looks exactly like the EUR/USD On the weekly this pair has been gracefully riding the 5 ema down also on the hourly with the 13 and 21 stepping in at times.
