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 EUR/JPY pair rose during the larger part of the session on Tuesday as traders attempted to rally the riskier assets around the world. However, the long standing correlation between the S&P500 and this pair broke down a while ago, and it looks as if only a certain amount of traders don’t know this.
GBP/CAD fell during the session on Tuesday again as downward pressure continues to push this market around. The pair isn’t the most liquid out there, but the fact that the 1.57 level has offered so much support shows just how important the area the market finds itself in is.
The EUR/JPY appears to be consolidating after its (mostly) bearish run downwards the last 2 weeks. Price moved little in today's trading, after having something of a bullish day yesterday.
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The EUR/USD pair bounced a bit on Monday as traders came back in full force for the year. The Non-Farm Payroll report on the first Friday of the month always makes for a low volume affair, and as it was on the 6th of January, many people think that a lot of the traders simply waited until Monday to start trading for the year.
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The USD/CAD pair quite strongly during the Monday session as the Dollar was hit on all fronts. The oil markets printed a nice hammer to suggest strength, and this in turn will always produce demand for the Canadian currency.
Few currencies at the moment have more toxicity attached to them as the Euro. In fact, there are only two that come to mind: The South African Rand and the Hungarian Forint. This puts things into perspective on just how bad things have gotten for the common currency.
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The Swissy appears to have found some resistance at yesterday's close of 0.9550 after reaching as high as 0.9594 before falling 100 pips to close well below yesterday's open and closing the day at 0.9494.
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The EUR/USD fell again on Friday as the Non-Farm Payroll report came out better than expected. This showed a nice contrast to the situation in Europe as the situation over there continues to get worse.
