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.
Forex Technical Analysis
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Forex Technical Analysis
Get the USD/JPY Forex signal for August 31, 2015 here.
Get the USD/CHF Forex signal for August 31, 2015 here.
Check out the GBP/USD Forex signal for August 31, 2015 here.
Get the EUR/USD Forex signal for August 31, 2015 here.
The EUR/USD pair fell again on Friday after initially trying to rally. Because of this, the market looks like it is essentially going to do a “round-trip when it comes to this pair.
During the session on Friday, the GBP/USD pair fell significantly. However, we did find a bit of support at the 1.53 level, and ended up forming a hammer for the second day in a row.
The AUD/USD pair fell initially during the course of the day on Friday, but found support just below the closing price in order to form a little bit of a hammer.
The USD/CHF pair initially fell during the course of the session on Friday, but found enough support below to turn the market back around. After all, the 0.96 level is a large, round, psychologically significant number, and of course would attract traders in general.
The EUR/CAD pair initially tried to rally during the course of the day on Friday, but as you can see fell significantly after trying to do so, and found quite a bit of buying pressure at the 1.50 level.
Gold prices ended the month up roughly 3.5% at approximately $1134 an ounce, benefited from uncertainty posed by China's surprise devaluation of its currency.
Get the weekly Forex forecast using quant vs. chart reading analysis for the week of August 31, 2015 here.
End the month of August 2015 with the weekly Forex forecast for major currency pairs here.
The EUR/USD pair fell during the course of the session on Thursday, testing the 1.12 level. This was an area that has been resistive previously, and now should offer support.
The EUR/JPY pair initially fell during the course of the day on Thursday but found enough support at the 135 level to turn things back around and form a hammer.
The EUR/CAD pair fell drastically during the course of the session on Thursday, but also the Wednesday session. With that being the case, the market looks as if we are pulling back from some of the overbought conditions that we have seen over the last week or so.