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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The EUR is still seeking some direction having just bounced off of support of the 50 day MA. In the daily EUR Chart below we once again are looking to our Fibonacci levels in search of some key handles.
Bulls strength stays for longer term, at the moment an attempt to reach resistance is valid.
The only news with a forecast, or a forecast that differs from the previously released figures and is worth putting any commitment to, is USD's Unemployment Claims at 8:30am est.
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EURUSD once again bulls showed their strength by climbing above resistance.
Consolidation above resistance level, however this might not last long, according to the current trend, bears have more options, but bulls attempt above resistance shows first signs of recovery.
This pair has created some sort of channel which is sliding downside towards support level, however trend for this pair is positive.
A breakout of resistance level did influence bulls to extend their movement by uptrend. For short term trades this is good option, but in a long run this pair is still standing in neutral zone.
Below are the heavy news items that have changing numbers in their forecast, for November 4th. Both releases look good for the dollar.
EURUSD bears did show their strength by sliding downside with sharp break of support level, despite this break bulls slowly, but have recovered the price.
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Ever wondered why November brings the unexpected volatility every year? From a trader’s perspective moves could be very similar to Nov-Dec 08’ moves in financial markets especially FX markets.
A breakout did occur sharply by support level, this movement did influence bears to step further according to current movement downside.
This pair did rebound by resistance level which initiated further downside movement.
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Sign up to get the latest market updates and free signals directly to your inbox.The Kiwi declined the most against the Greenback last week, compared to the rest of the G-10. On October 28th the RBNZ kept rates on hold.
EURUSD negative trend stays active, despite the jumping back and forwards, this pair has more chances to slide downside.
The EUR/USD bounced off 1.4850 on Nov 2nd and as I write this is climbing back up from 1.4775. Bollinger Bands, Full Stochastics, StochRSI and RSI on a daily chart say a slow climb up is still to come.