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 fell during most of the session on Friday, but as you can see we got a bit of a bounce off of the 1.3025 region in order to form a hammer. What I find most interesting about this hammer is the fact that we closed just at the 1.31 handle, an area that had been so resistive lately.
The USD/JPY pair has been a one-way trade for quite some time, and the entire Forex world wants to sell the Japanese yen. This is been a great way to boost your accounts, as the simplicity of this trade has been quite overwhelming.
The NZD/USD pair finally broke out of the massive consolidation area that ended at the 0.8550 area during the course of the previous week. On Friday, we saw a bit of a pullback, but also sold bounce from that area as well.
The EUR/USD is certainly under a lot of pressure fundamentally speaking. The Cyprus debt issue continues to weigh heavy on the currency, which has been impressively resilient so far.
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The XAU/USD pair (Gold vs. the American dollar) closed the day slightly higher than opening as the lowest prices since last summer attracted some buyers yesterday. However, better-than-expected data out of the U.S. limited the shiny metal's gains.
The WTI Crude market fell during the session on Thursday, reaching for the $93.00 level as support, and eventually finding it. The market did bounce from that level, and as a result it looks like the area of that is surrounded by $92.00 and $94.00 will continue to be messy and noisy.
The EUR/USD pair went higher during the Thursday session, and actually managed to crack the 1.31 handle for the second day in a row. It should be stated that some of the gains were given back, and the breakout wasn't exactly impressive either. However, it is what it is, and we find ourselves above the 1.31 handle.
AUD/USD had an interesting day as it went back and forth during the Thursday session. As you can see, we went as high as 1.0580, and as low as the 1.05 handle. This tells me that the market is very volatile, but more importantly tells me that the market wants to go higher.
The USD/JPY pair initially fell during the Tuesday session, but got close to the 99 handle and saw a lot of buyers stepped into the marketplace in order to prop it up. This is probably how was pair is going to act in the near-term, simply because the entire world wants to short the Yen, but many of the traders out there would have missed this trade.
According to the analysis of the AUD/USD and EUR/USD trader profited on a binary options platform.
Gold is falling again and this Forex signal for the XAU/USD pair has the information you need for your trading. Check it out here.
Without a doubt yesterday's main event was the release of the minutes from the Federal Reserve's March policy meeting. The American dollar got a lift when minutes of the meeting showed that the Federal Open Market Committee members think that if the outlook for labor market conditions improve as anticipated, it would probably be appropriate to slow purchases later in the year and to stop them by year-end.
The WTI Crude Oil market place initially sold off during the Wednesday session, dipping as low as the $93.50 level before bouncing back to the upside. We close that $94.58, which of course shows that we are just over the minor resistance area at $94.50 that I had mentioned previously.
The EUR/USD pair cleared the 50 day exponential moving average just yesterday, but now we have a bearish signal. In fact, this is exactly where I would have anticipated it, assuming that we found ourselves falling back.
