Forex Technical Analysis Archive

[WizardRSS: unable to retrieve full-text content] EUR/USD has been under pressure over the past several weeks as the debt crisis intensifies and the ECB becomes increasingly dovish. The pair has consolidated higher over the past day in what appears to be a bear flag as seen...

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[WizardRSS: unable to retrieve full-text content] GBP/USD has come under pressure in recent weeks and has been trading in a bearish channel since the end of August. This can be seen by a series of lower highs and lower lows as identified in the chart below....

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The commodity currencies, AUD, NZD, and CAD are sliding sharply in early US session. The USD is also very strong. Below are USD/JPY, AUD/USD, USD/CAD, and NZD/USD 5-min charts. The USD/JPY is rallying despite risk aversion. This shows that at the moment, with QE3 out of...

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[WizardRSS: unable to retrieve full-text content] As I was wrapping up this article, the market is breaking above 1.4450. So, let’s anticipate the rally towards the 1.45-1.4517 high and if we can close above that today. Still, be careful of volatile action below 1.4517. EUR/USD’s recent volatility...

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[WizardRSS: unable to retrieve full-text content] A lack of positive Merkel-Sarkozy meeting developments and signs of moderating growth in the EZ core (German GDP was +0.1% vs. consensus +0.5% QoQ rise have put a dent in the recent EUR rally. EUR/USD upside has so far been...

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[WizardRSS: unable to retrieve full-text content] This week the Ministry of Finance in Japan confirmed direct intervention in the markets and the Bank of Japan (BOJ) announced additional asset purchases to 15 trillion yen (from 10 trillion yen) at an early conclusion of its Board Meeting....

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[WizardRSS: unable to retrieve full-text content] The NZD/USD has stalled its strong bullish run near 0.8765. In the US session, risk aversion propped up the USD, and we are seeing a sharp correction as NZD/USD falls to the 0.8690 support pivot, cracking it. The 0.8675 pivot is...

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[WizardRSS: unable to retrieve full-text content] The EUR/GBP broken below a rising channel yesterday, and we saw a corrective rally ahead of the US session. In this session of the week, we are seeing an attempt to confirm the breakout. A break below 0.8748 further confirms the breakout,...

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[WizardRSS: unable to retrieve full-text content] The AUD/USD is consolidating after a strong swing from 1.0440 area that was developed in a 5-wave or motive-wave manner. The RSI shows the bullish momentum intact. It looks like we completed a 3-swing correction and could be ready for a bullish...

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