The question is: How Low Can We Go? Well, the Japanese Yen is gaining strength amid weaker US Dollar and comments by Japanese officials.
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.
Most Recent
On the daily EUR/CHF chart we see the price formed a possible reversal candlestick formation – the hammer. It is important after a prolonged down trend and it carries bullish implications.
Through out the New York Session, we expect the Pound to continue to head lower as long as New Home Sales and Federal Reserve do not ruin the parade.
Top Forex Brokers
Recent price action in the CAD/JPY pairs ran into a very strong resistance. The 9.000 level seems to be holding steady, in spite of multiple advances there.
There is a solid set-up brewing for USD/JPY to the upside. This type of trade generally manifests itself over a couple of days and takes time to proliferate.
Britain's emergency budget allowed the Pound to stay away from a complete reversal in trend to the downside.
Each technical indicator on the daily chart still has left room for the EUR/USD to fall a bit further.
Giving a boost by the Chinese Yuan revaluation, EUR/USD continue to perform relatively well.
Bollinger Bands, Full Stochastics, StochRSI and RSI in unison with price action are ready for the EUR/USD pair to have closed down from where it is now in twenty-four hours.
Bonuses & Promotions
The EUR/USD pair is in an intermediate term bullish trend, with no sign of reversing.
After reaching the 1.1700 level, the USD-CHF has been retracing for a better part of the last two weeks.
The technical analysis is on cross roads of both directions regarding the EUR/USD pair.
Today the technicals tell a prelude about the EUR/USD pair that is due to plummet, with three of them over their centerlines and the stalwart RSI on the fence.
With news both yay and nay for America's Dollar, we will turn to the technicals for guidance in our time of need today.
Currently the EUR/USD pair is trading within a well-defined upward channel. In retrospect it is in a short term uptrend. You know what the markets say- “trend is your friend.”