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 WTI Crude Oil markets fell during the balance of the session on Tuesday, touching as low as the $102 vicinity. The resulting candle for the day was a nice looking hammer though, and we are at the bottom of the recent consolidation area as well.
The EUR/USD pair tried to rally during the session on Tuesday, but as you can see failed to do so as we form something along the lines of the shooting star. The 1.35 level has offered far too much resistance, and as a result we think that this market will continue to struggle at this point.
The GBP/USD pair fell during the balance of the session on Tuesday, as we continue to focus on the 1.60 handle. Quite often, you will see markets focus on one particular level for a while before taking off.
The NZD/USD pair fell hard during the session on Tuesday, breaking down below the 0.8250 level towards the end of the day. The "risk off" attitude of market participants of course have the New Zealand dollar selling off, but as you can see the market has been very positive and parabolic over the last several weeks, so it makes perfect sense the market ran out of steam at this point in time.
The USD/JPY pair has been rather difficult to trade lately. On September 18 we saw the pair fall over 120 pips only to watch it reverse and climb over 180 pips the following day on the Fed’s ‘No Taper’ news.
According to the analysis of the EUR/USD and EUR/JPY trader profited on a binary options platform. See how here.
Gold was off $10 on Monday, currently at 1322 (as of 430 PM EST). Using the 1200 low close and current bottom, Gold recently bounced directly off the 50% retracement level, at 1306, and met resistance at 23.6%, or 1365.
AUD vs. the USD is building a base that if can hold, should setup well for AUD bulls. The pair has made a mid-term bottom at the 90 handle, and within a week has rallied to .95.
Gold weakened against the American dollar for a second session on Monday after two investment banks cut their forecasts for 2013 and 2014. The XAU/USD pair traded as low as 1343.40 but erased some of its recent loses as weaker-than-expected U.S. manufacturing data eased the greenback’s safe-haven appeal.
The WTI Crude Oil markets fell during the session on Monday, but remain elevated enough to stay in the consolidation area that we've seen recently. The $102 level has been supportive, and I still believe that will be the case going forward.
The EUR/USD pair fell during the session on Monday, but as you can see ran into a bit of support at the 1.35 level. That being the case, it's obvious that this market still looks very bullish, and the 1.35 region should offer a bit of support.
The GBP/USD pair rose during the session on Monday, but gave back some of the gains. The most important thing to me though was the fact that the 1.60 handle did in fact offer support, and that was when I was waiting to see.
The EUR/JPY pair fell hard during the session on Monday, but as you can see ran into a significant amount of support somewhere close to the 133 handle. This was the site of a significant breakout recently, so it does make sense that we would start to see some buying in this general vicinity.
According to the analysis of the EUR/USD, trader profited on a binary options platform. See how here.
This weekly chart shows that last week closed up, but with a very long upper wick showing weakness in the zone from about 0.9400 to the high of 0.9527, which is close to the upper wick of the bearish reversal candle that formed in June. It appears there is a zone of resistance from 0.9527 to 0.9640.
