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 AUD/USD pair initially rallied during the session on Wednesday, but as we have seen several times before, the 1.05 came in as significant resistance. As far as the recent action is concerned, this has form what looks like it could be a double top.
The WTI Crude Oil market had a back and forth session during the Tuesday trading hours, but as you can see ended up basically unchanged. With that in mind, I look at this chart and see that we indeed have a lot of bullish pressure underneath.
Check out this Forex signal for the EUR/GBP pair that is currently heading in an upwards direction here.
The markets were finally back at full strength yesterday after the Easter holiday around the world. The XAU/USD pair dipped to a low of 1573.85, which happens to be just above the support level of 1572, as investors turned to the relative safety of the U.S. dollar on intensifying worries over ongoing problems in the eurozone.
The EUR/USD pair attempted to rally during the session on Tuesday as traders came back to their desks in full force, but as you can see the rally failed and the Euro lost ground yet again. When you look at this chart, you can see that the trend is most decidedly bearish, but I do suspect that the 1.27 level is going to be a difficult nut to crack as we try to break it down.
The USD/CAD pair fell during the Tuesday session, as the 1.0150 level offered only slight support. However, later in the day we did see the market pullback and form a little bit of a hammer at this point.
The USD/JPY pair initially fell during the Tuesday session, but as you can see bounced significantly to form a perfect hammer. I have to admit, this hammer has me very interested in going long in this pair.
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With today’s reopening of the Cyprus Stock Exchange, the problems of the Island Nation have largely been forgotten by markets as the focus shifts back to Italy and Spain which are prevailing source of weakness in the Eurozone. Get the full analysis here.
The WTI Crude Oil market initially fell rather significantly during the session on Monday, but you can see that the area around the $96.00 level did in fact caused enough support to bounce this market back above the $97.00 level and form a hammer in the process.
Get this free Forex signal for the USD/CAD pair here and learn which direction it is headed in to make the right moves now.
The EUR/USD pair initially fell during the session on Monday, but you can see that the 1.28 level has offered enough support to move the market higher. The result was a hammer shaped candle; however I am still very bearish of this pair as the downtrend has been rather relentless.
Japan’s Prime Minister, Shinzo Abe’s well known creed supports boosting of exports with the help of a weaker Yen and a very relaxed monetary policy. We have the analysis for the EUR/JPY pair here. Check it out.
The XAU/USD pair (Gold vs. the American dollar) closed the day higher than opening but the trading range was tight as major European markets were closed for Easter holiday. The demand for gold found some support after weaker than anticipated ISM Manufacturing PMI eased the greenback’s safe-haven appeal.
The AUD/USD pair fell during the first part of the session on Monday, but as you can see clear the 1.04 level on the bounce as we await the monetary policy statement from the Reserve Bank of Australia.
