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 EUR/USD pair rose during the session after initially falling in bouncing off of the 1.25 handle on Wednesday. However, we have an important ECB meeting and speech coming up later today which will have a major effect on this currency pair, so I only read so much into this action.
NZD/USD fell during much of the session on Wednesday as the "risk off trade" continued. However, by the end of the session we saw the pair bounced in order to form a hammer.
USD/CAD hasn't exactly been the most exciting pair to trade lately. This is because the pair has been very sideways, which it does tend to do quite often. However, there are sudden bursts in this pair wants to decide which way it wants to go, and I think that we are perhaps witnessing the windup for that move.
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The Swissy is heading downward, see what's in store for this pair with this Forex signal from one of our expert traders.
The 'swissy' has once again found support just north of 0.9500 with yesterday's daily low at 0.9508. The pair went on to close much higher at 0.9582, once again bouncing from the 0.9500 level as it has done several times during June as well as twice in the last 3 trading days, with yesterday making it 3 for 3.
The EUR/USD pair has been grinding higher over the summer as the volumes have dwindled. Now that we are starting to get many of the larger trading firms back online with full volumes, we have seen a bit of a letdown in the bullishness of the Euro.
The AUD/USD pair attempted to rally during the session on Tuesday, but again showed weakness as it approached the 1.03 level. The fact that we formed a shooting star at the bottom of such a massively bearish move concerned me for the health of the Australian dollar going forward.
The GBP/USD or “cable” pair had an interesting session on Tuesday, as it both rallied and then failed. The pair trying to get over the 1.59 level again, but failed and fell in order to form a shooting star.
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AUD/USD fell during the Monday session as volumes were a bit on the light side as the day went by. This is because of the United States celebrating the Labor Day holiday, and the fact that many of the North American firms would have been away from their desks.
EUR/USD had a slightly positive day on Monday, but let's keep in mind that the North Americans had very little volume to work with. This was because of the Labor Day holiday in the United States, and the relatively low volume that the Canadian strength of the markets.
The EUR/JPY pair had a fairly uneventful Monday, but this makes sense as the Americans were away on Labor Day. When you take that kind of liquidity out of the markets, big moves are necessarily in order.
The AUD/USD turned bullish after the RBA announced that it would leave the lending rate unchanged at 3.50%. After a relatively low volume trading day due in part to the Labor Day holiday in North America, Asian markets turned bullish with Japan releasing poorer numbers than expected for both the Monetary Base and Average Cash Earnings.
