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.
This pair kicks off the new trade week looking quite bullish to me. On the weekly chart price starts out above the 55 ema with an upper Bollinger Band opening up. The 5 ema has crossed above the 21 and 13 and the 13 is prepping to cross the 21.
The bulls are trying to break through he resistance at 1.035 while getting support from below at 1.024.
This new trading week begins with what appears as a heavy EUR/GBP. I start out my analysis as usual taking a look at the EUR/CHF and I see that it is up against the daily 233 ema, a very strong area of resistance.
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EUR/GBP this pair has boon looking very bullish, yet I do see it is approaching a descending trend line that may cause a pullback and/or hesitation. There are bullish signs developing on the daily chart such as ema crossovers but until we break the descending trend line we are approaching I would be hesitant to enter any longs until the line is really broken.
USD/CHF pair continues its bullish drive up and continues to look bullish, however, we have reached bearish fib levels that may start to give price a stronger fight than what we have been experiencing until now.
EUR/USD pair continues to look bearish and I don't see any reason why that will change anytime soon. On the weekly chart we are below the ema's and riding the 5 ema down.
GBP/USD pair is just as bearish as ever, however, it has reached what looks like a strong area of visual support.
EUR/JPY pair continues to be predictable. In all my analysis I point out that price is riding the daily 5 ema which it has.
Over the last couple of days, the USD/CHF daily chart has given us a strong bullish continuation candle closing just above the resistance level of 0.9000, and then reached a high of 0.9181 during the North American session yesterday.
Based on Doug’s analysis of the EUR/USD, the strength of the USD creates an investment opportunity in the following positions: “Low” or “Below”, “Touch Down” or “No Touch” on the EUR/USD.
EUR/GBP pair made a big move yesterday and starts out today with some space in between current price action and the ema's On the weekly chart we see that the 5 ema is pointing up and setting up to make a cross over the 13 and 21 ema's.
