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.
USD/JPY continued to rise in value on Friday as the trading community is quickly changing its tune as far as the Yen is concerned. The pair has been beaten down for so long, it is sometimes difficult to remember that it used to go up sometimes as well as the common falling in price.
Kiwi dollar is one of the most favored commodity currencies for traders to speculate with. While the currency will often track close to the Aussie, the fact is the Kiwi is quite a bit less liquid than its cousin, and therefore will move much quicker on balance.
While this pair is not considered one of the 'Major' pairs by some brokers, the AUD/CAD has allot to offer traders. The pair provides very nice swings for swing & position traders, as well as nice range for day or intra-day traders. With the close of the weekly candle on Friday, this pair seems to indicate that it could be preparing for a push to highs last seen in 1997.
EUR/USD continues to mystify the trading community at large as the pair seemingly is a never ending series of headline based knee jerk reactions. The Euro has a ton of things working against it – except for one thing: price. The pair broke out on Thursday, and it appears that the bulls are starting to take over.
AUD/CHF had another bearish day on Thursday as the trading community continues to purchase Francs against most major currencies. This is a bit counterintuitive to what we normally expect, as the Franc is certainly a safety currency under normal circumstances.
EUR/GBP isn’t typically known to move rapidly. The pair is one that will typically grind in a zigzag pattern as the market is normally a very tight affair. However, when it does move it can be very sudden.
The USD/CHF or 'Swissy' as traders call it, has found some support on the Monthly S1 at 0.9100, halting its fall towards the close of the New York session. See the full technical analysis here.
Few pairs have been as strong as the AUD/USD pair over the last several months, except possibly the NZD/USD pair – which makes much of the same moves. The Aussie is often used as a play on commodities as the Australians have many of the raw materials that the world uses to expand the economy in the form of construction or manufacturing.
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EUR/USD moved very little during the session on Wednesday as the pair continues to reflect the general attitude of the markets in all things Greece related. The Greeks managed a deal with the Troika to lower the debt and get a bailout, but the markets hardly seem impressed.
The EUR/AUD pair is one that a lot of traders will ignore. It isn’t considered one of the major pairs by many traders, but it does include two major currencies. It is a great way to play risk appetite in the market, and also a great way to express distrust of the Euro as well.
On February 16 the Euro touched the 50% retracement level from its reversal on January 16 to the 60 day high at 1.3320 and has now worked its way back up towards that high.
Free Forex EUR/GBP Signal for February 23, 2012. Using Pivot Points and support/resistance point, see where this major pair is headed.
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Free Forex AUD/USD Signal for February 22, 2012. Using Elliot Waves and Fibonacci Trading, see where this major pair is headed.
