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.
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As the Eurozone economy is poised for more weakness in the years ahead, analysts try to determine how low the EUR/USD may fall.
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Global trade uncertainty, a potential Bank of Canada interest rate cut and mixed Japanese economic data has created a volatile trading environment for the CAD/JPY.
This week’s expected interest rate cut by the Reserve Bank of New Zealand is pressuring the New Zealand Dollar to the downside.
Australian economic released this morning showed an improvement in business conditions and confidence which halted the short-term correction in the AUD/USD.
USDCAD: Bullish breakout from flag pattern continues
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GBPUSD: Today’s pivotal point likely at 1.2833
The US dollar will continue to struggle against the Japanese yen going into the next several days, as the 61.8% Fibonacci retracement level has obviously been very resistive.
The S&P 500 continues to struggle at the 3100 level, as it is a large, round, psychologically significant figure that has been defended by those in the options market, as they will often go into the futures market to manipulate prices away from barriers that they are trying to defend.
The natural gas markets initially tried to rally during the day on Tuesday but found enough resistance near the gap just above, and that shows that there could be a significant amount of selling pressure just above.
The NASDAQ 100 has pulled back a bit during the trading session on Monday but found enough support underneath the turn around and broke higher.