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.
EUR/USD spent most of the previous week trying to rally, but there simply wasn’t enough steam to hold onto gains. The 1.30 level continues to be very supportive, but the last several days have seen shooting stars form after rallies continue to fail.
As the last of the mince pies get eaten and new holes made in an already overworked belt, it’s time to put the last quarter’s volatile trading period behind us and look forward to a prosperous New Year.
Just like a few other pairs the GBP/USD daily candle was a Doji. It moved a total of 80 pips yesterday but the open and close were only 7 pips apart.
Yesterday was a very interesting day for the EUR/USD as it was with a few other pairs. Yesterday's daily candle for the EUR/USD was a Doji as it was with the EUR/GBP and the USD/CHF.
Yesterday was a slow day for the EUR/JPY. Its range was only half of what it normally is. On the daily timeframe it is obvious price is heading up to make the retracement that is overdue, however, the last few days we have been making higher lows but at the same time we also been making lower highs which is just another way of saying we are in consolidation.
The Swissy yesterday, just like the EUR/GBP made a Doji. The only difference is that the EUR/GBP made its Doji at support and the USDCHF made its Doji at resistance. Interesting enough the difference between the open and close for the Swissy was just 5 pips and the EUR/GBP was 4 pips.
Yesterday the EUR/GBP produced a Doji at an area of support, the weekly 233 ema after a downtrend that has been lasting a couple weeks. I am sure you all already know that a Doji is a reversal candle.
Currency: USD/CAD Trend Expected Direction: Up Strategy: Ichimoku Kinko Hyo
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Find out where this major Forex currency pair is headed in this analysis from an expert trader.
Currency: EUR/JPY Trend Expected Direction: Down Strategy: Elliott Waves and Fibonacci Trading.
Currency: EUR/USD Trend Expected Direction: Down Strategy: Elliott Waves and Fibonacci Trading.
The EUR/JPY sure was a wild pair yesterday. The total daily range was 108 pips yet price opened and closed within 3 pips of each other. On the weekly time frame price rose to nearly the 5 ema and fell.
Yesterday was an average day for the GBP/USD pair. Its range was around 126 pips. The weekly candle rose to the 13 ema then price dropped. The 13 ema is very powerful, especially on the larger time frames.
Yesterday the Swissy had a very volatile day. 150 pip range to be exact. Interesting when you think about it since last week's range was like 323 pips. On the daily time frame price came down and pierced the 21 ema and bounced high.
