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/GBP pair fell during the session on Tuesday, but did bounce just above the 0.85 level in order to form a hammer. This hammer suggests to me that we are going higher in this pair, and quite frankly the Euro seems to be picking up steam against everything at the moment.
The USD/JPY pair rose during the session on Tuesday, but gave back about half of the gains by the end of the day. The candle that was formed was slightly similar to a shooting star formation, but the fact that we sit upon a massive support area at the 90 handle suggests to me that the candle shape is basically irrelevant.
According to the analysis of the EUR/GBP and EUR/USD trader profited on a binary options platform.
On Thursday, at 8:30 EST, the Statistics Canada (STCA) will publish the country’s GDP numbers for November 2012. The market is expecting a +0.2% read for this indicator (relative to October).
Gold prices continued to decline yesterday and touched the middle line of a giant consolidation area which prices have been trapped for several months. After falling 4 sessions in a row, it appears that the XAU/USD pair found some support at this critical level of 1652.
The EUR/USD pair fell during the session on Monday as the profit taking began. Quite frankly, the latest move has only reinforced in my mind that we will eventually break above the all-important 1.35 resistance level.
The NZD/USD pair had a fairly eventful session on Monday as we fell quite significantly during the day. However, there was quite a bit of a bounce and in fact the market formed a nice looking hammer at the bottom of what's been fairly consistent consolidation.
The EUR/GBP pair shot straight up again during the Monday session, but did pullback to give some of the gains back. However, it's obvious that the 0.85 level has been violated and jumped over, and as a result it looks like we are beginning the next leg higher.
The USD/CAD has been stopped in its advance at 1.0099, just above parity with the US Dollar. The pair has reached the 61.8% FIBO Projection anchored at the low of 0.9632 (September 12, 2012) to the previous high from November 2012 at 1.0056, and finally back to January 11, 2013's low at 0.9815.
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According to the analysis of the USD/JPY and EUR/USD trader profited on a binary options platform.
The end of the month may be approaching but don't let that discourage your trading for the final week. Check out the forecast for major Forex pairs here and plan your trading carefully.
The XAU/USD pair (gold vs. the greenback) closed the week lower than opening as failure to break above the 1695-1705 zone resulted in a sell-off.
The EUR/USD pair had another bullish session on Friday, as the buyers continue to take control in this market. What I find interesting is that we are currently testing the 1.35 level, and although we didn't break above that we certainly close on a high note for the week.
The GBP/CHF pair is one that has been drifting lower for some time now. Part of this is because of the fear of a so-called "triple dip recession" in the United Kingdom.
