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 pair technically broke out back in January, and the 80 level was the site of a massive move higher. The move caught a lot of traders off guard, and the short covering and newly implemented longs pushed the pair much higher in a very short amount of time.
The USD/CAD pair looks like a very interesting market to me at the moment. The pair has been very range bound over the last few months, and the oil markets have also been very confusing to a lot of traders as well. The commodity trade has been absolutely hammered lately, and this chart shows just how far the oil markets fell.
Based on Christopher Lewis's analysis of the AUD/USD and USD/CAD traders profited on a binary options platform.
EUR/USD fell again on Wednesday as the problems in the region continue to make headlines. The idea that there is a large amount of Europeans expressing through the ballot box that they are fed up with the austerity measures certainly weighs upon the market and sentiment regarding not only the Euro, but risk assets everywhere.
The AUD/USD pair fell hard on a Wednesday session that saw plenty of risk aversion in the marketplace. The pair is one of the favorite ways for traders to express their risk appetite, as the Aussie is so highly correlated to the commodity space, and to exporting to China.
The oil market forming a hammer at a massive support level is worth noticing. For those of you that don’t trade oil – it is one of the most technical markets out there.
The GBP/USD traded as low as 1.6066 early in the New York session and rebounded to close at 1.6135. This price action formed a potential pin bar reversal off of the 50% retracement level for the period between the low on April 16 and the high of April 30th.
Based on Christopher Lewis's analysis of the EUR/USD and USD/JPY traders profited on a binary options platform.
Another day full of nerves passed by in Wall Street, the buyers are still not willing to give up and therefore we see bullish momentums during the trading session. The S&P 500 is facing the support of 1350-1360 points and a strong short-squeeze here might lift it to 1400 points.
The EUR/USD pair has been frustrating for those of us that expect its total destruction someday. The pair continues to fight at the 1.30 level, and by now everyone knows that someone is there defending the level.
The EUR/JPY pair fell on the session for Tuesday as the “risk off” attitude came back into the world’s financial markets. This pair has a long history of being very sensitive to the stock markets and risk sentiment in general, so when things get a bit on the nervous side, this pair will fall under normal conditions.
The USD/CAD pair is one of the first ones people look to when they think of oil. While the oil markets certainly can be influential in this pair, there is a lot more to this market than most people think of.
The Kiwi is approaching a key Weekly Support level at 0.7750 and has crossed below the 62 WMA for the first time in 6 months. Today's price action say the formation of another Bearish engulfing candle hinting that the brakes have not yet been applied on the pair's descent.
A trader profited on a binary options platform based on today's technical analysis.
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