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Forex Technical Analysis
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Forex Technical Analysis
The EUR/USD pair fell during the session on Wednesday, testing the 1.12 level. We formed a shooting star on Tuesday, so the pullback couldn’t have been a massive surprise, but at the end of the day there’s also a hammer from the Monday session.
The USD/CHF pair broke higher during the course of the day on Wednesday, breaking the top of the shooting star that had formed on Monday. With this, I believe that the buyers are starting to take over again.
The USD/JPY pair fell during the session on Wednesday, breaking below the 120 level at one point in time. We found enough support below there to turn things back around and form a bit of a hammer, and that of course mirrors what we saw during the Tuesday session.
Looking at the AUD/USD pair, you can see that we initially fell during the session on Wednesday. However, we found the 0.70 level below as supportive.
Gold prices dropped on Wednesday, marking the first loss in four sessions, as a stronger dollar and gains in equity markets sapped demand for safe havens. XAU/USD is trading at $1132.53, slightly lower than the opening price of $1133.65.
Get the NZD/USD Forex signal for September 2, 2015 here.
Get the AUD/USD Forex signal for September 2, 2015 here.
Get the USD/JPY Forex signal for September 2, 2015 here.
Get the USD/CHF Forex signal for September 2, 2015 here.
Get the GBP/USD Forex signal for September 2, 2015 here.
Get the EUR/USD Forex signal for September 2, 2015 here.
During the session on Tuesday, the EUR/USD pair had a very volatile back and forth type of day, as the markets continue to look for some type of stability. As long as markets around the world continue to go back and forth, this pair will as well.
The WTI Crude Oil markets fell rather significantly during the course of the session on Tuesday, slamming into the $45 handle. We initially trying to break above $48, but that offered resistance yet again as we had seen quite a bit of selling pressure above there on Monday as well.
The EUR/CAD pair fell initially during the session on Tuesday but found enough support at the 1.4750 level to turn things back around and show a significant green candle.
The AUD/USD pair fell hard during the course of the day on Tuesday, stopping just above the 0.70 level. This of course is a large, round, psychologically significant number, and one that will attract a lot of attention by traders worldwide.