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 AUD/USD pair was bullish during the Thursday session, but like all other rallies that this pair has seen recently, the end of the day Saul profit-taking. The candle looks very much like a shooting star, and it is still well within the tolerance of what would be considered resistance from the bottom.
The EUR/AUD Daily Chart has printed a perfect Pin Bar at a fairly strong level of support. Yesterday's price action saw the pair reach down below the 61.8% retracement level for the last leg of the recent Bullish run, and closed above the 50% level at 1.2575.
The EUR/USD pair found itself falling again on Wednesday as the sellers stepped into the market full force. The pair continues to suffer from uncertainty in the European Union, and with the European Finance Ministers seemingly getting nowhere this week it's likely that we could see continued pressure over the medium-term.
The USD CAD pair bounced on Wednesday in order to the back above the 0.98 handle. However, I see that there is quite a bit of noise all the way up to the 0.9950 level, and as such I would be hesitant to buy this pair.
The GBP/USD pair fell again during the Wednesday session, to test the 1.60 handle. This area is of significance to me because of the "large round number aspect" of the value.
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Last week EUR/CAD double topped at 1.2806 and began a bearish descent that lasted 3 days so far, with only yesterday being more Bullish. Get the full analysis here.
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The EUR/GBP daily chart has been printing lower highs for what seems like ages, basically Bearish since hitting its all time high in 2008 at 0.9802. There have been Bullish rallies for sure as no chart ever goes only up or only down.
The AUD/USD pair attempted to rally during the session on Tuesday, but was beat back once we got above the 1.02 level. This level is important as it was the bottom of a larger consolidation area, and one has to think now that the pair is very vulnerable to the downside.
The USD/CAD pair did very little during the Tuesday session, as the markets continue to digest all of the news surrounding the oil markets.
The EUR/USD pair fell hard during the session on Tuesday as the problems in Europe appear to be on the minds of traders again. This pair has essentially been relegated to a matter of which area is looking worse at the moment.
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