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.
Forex Technical Analysis
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Forex Technical Analysis
The “market movers” have their name for a reason. Trading against the trend is something many traders never do, here you can see why.
The EUR/USD's daily chart dives deeper down, despite what each of the four technical indicators put to it have said.
Bears are taking control despite the fact that there were signs of bulls recovery.
The EUR/USD's rise at the week's open is in line with the desire of each of the indicators that have long been dragged across the bottom of their windows.
With non-farm employment change looking good for the Dollar, the EUR/USD will likely continue the downward trend.
The daily chart that the EUR/USD is put to has for many days had indicators that remind us that technicals lag.
Two strong news items will surely trump the story the lagging technicals will tell today, to any traders who wish this pair to move upward.
All of the four technicals on the EUR/USD's daily chart agreeing with price action, for a brief upward swing for some pressure relief before continuing the downtrend.
Bollinger Bands, Full Stochastics, StochRSI and RSI, all each decidedly determined to bring the EUR/USD up despite the slight downtrend it is enjoying.
Technicals will not disagree with the rise that might come today, from the ill forecast on such a major piece of news, for the Dollar's side of this pair. Bollinger Bands, Full Stochastics, StochRSI and RSI are each following the trend as lagging indicators would. Large news items like today's are what change things like this though.
The trend and today's forecast for unemployment claims bodes well for the Dollar. Bollinger Bands, Full Stochastics, StochRSI and RSI have been idling below their centerlines waiting for a excuse to rise, yet none has come along.
Today the Fed’s two day session will be concluded with an announcement on the future monetary policy.
The Federal Funds rate is forecast to be the same, so me must turn to the technicals to find where the EUR/USD might take us today.
Commendable news for consumer confidence on the shores of the United States, will likely see the Dollar gain in value over the Euro at the end of the April 27th trading day.
It looks like bulls are showing enough confidence to climb above support barrier at 1.3371 price level.