Forex Technical Major Pairs Analysis



In the ever-volatile forex market, traders and investors must stay informed about the latest trends and technical analysis to make informed decisions. This week’s analysis focuses on major forex pairs, offering insights and strategies to navigate the market successfully. Our comprehensive review will cover the technical outlook for EUR/USD, GBP/USD, USD/JPY, and AUD/USD, helping traders identify key levels, trends, and potential trading opportunities.

EUR/USD Technical Analysis

The EUR/USD pair has shown resilience in recent weeks, recovering from its previous lows. The pair is currently trading above its 200-day moving average, indicating a bullish trend. Key support levels are at 1.0950 and 1.0900, while resistance levels are at 1.1050 and 1.1100. The Relative Strength Index (RSI) is approaching overbought territory, suggesting a potential pullback. Traders should watch for a breakout above 1.1100 for further bullish momentum, while a drop below 1.0950 could signal a bearish reversal.

GBP/USD Technical Analysis

The GBP/USD pair has been influenced by recent economic data and geopolitical events. The pair is currently trading near the 1.2800 level, with support at 1.2700 and resistance at 1.2900. The Moving Average Convergence Divergence (MACD) indicator shows a bullish crossover, supporting further upside potential. However, traders should be cautious of any negative news from the UK or the US that could impact the pair. A sustained move above 1.2900 could lead to a test of the 1.3000 level, while a break below 1.2700 might see the pair testing lower supports.

USD/JPY Technical Analysis

The USD/JPY pair has been trading within a defined range, with the 110.00 level acting as a significant pivot. Support levels are at 109.50 and 109.00, while resistance levels are at 110.50 and 111.00. The Bollinger Bands indicate low volatility, suggesting a potential breakout soon. A move above 110.50 could trigger further gains towards 111.50, while a drop below 109.50 might lead to a test of the 108.50 level. Traders should keep an eye on US economic data and any shifts in risk sentiment that could influence the pair.

AUD/USD Technical Analysis

The AUD/USD pair has been gaining strength, supported by positive economic data from Australia and rising commodity prices. The pair is currently trading above 0.7500, with support at 0.7450 and resistance at 0.7550. The Fibonacci retracement levels suggest potential targets at 0.7600 and 0.7650 on the upside. The RSI is in bullish territory, indicating further upside potential. However, traders should monitor global risk sentiment and any significant moves in commodity prices that could impact the pair.

Trading Strategies For The Week

Based on the technical analysis of these major forex pairs, here are some potential trading strategies for the week:

EUR/USD: Look for buying opportunities on dips towards 1.0950, targeting a move above 1.1100. Place stop-loss orders below 1.0900 to manage risk.

GBP/USD: Consider long positions if the pair breaks above 1.2900, with a target of 1.3000. Alternatively, short the pair if it falls below 1.2700, targeting 1.2600.

USD/JPY: Trade the range by buying near 109.50 with a target of 110.50, and selling near 110.50 with a target of 109.50. Watch for a breakout and adjust positions accordingly.

AUD/USD: Look for long positions above 0.7500, targeting 0.7600 and 0.7650. Use stop-loss orders below 0.7450 to manage downside risk.


Staying updated with technical analysis is crucial for successful forex trading. This week’s analysis of major forex pairs highlights key levels and potential trading opportunities. Traders should remain vigilant and adapt their strategies based on market conditions and economic data. By understanding the technical outlook and employing sound risk management, traders can navigate the forex market with confidence.