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.
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Forex Technical Analysis
The CAD/JPY pair went back and forth during the session on Monday, essentially settling nothing by the time the market closed.
Check out the signal updates for the AUD/USD, EUR/USD, and GBP/USD pairs here.
According to the analysis of the NZD/USD pair and Crude Oil, trader profited on a binary options platform. See how here.
Gold prices (XAU/USD) settled slightly lower yesterday as investors took a cautious stance ahead of the U.S. Federal Reserve's monetary policy announcement.
The price has been consolidating since May in a fairly triangular style. We will take a closer look at triangular trend lines that can be applied in a shorter term chart to follow.
The XAU/USD pair rose for the week settled at $1351.54 an ounce on Friday as a series of economic data out of the world's largest economy disappointed the market and continued to weigh on the American dollar.
In the WTI Crude Oil markets rose during the session on Friday, breaking the top of the Thursday hammer. This of course is a classic bully signal, and as a result I am long of this market for the short term.
The USD/CAD pair rose during the session on Friday, breaking above the 1.0450 handle at the close. This is a continuation of the move that smash through the resistance at the 1.04 level, showing that the market is in fact ready to breakout towards 1.05 level, and then possibly as high as 1.06 level.
The AUD/USD pair fell during the session on Friday, showing that there is continued weakness in the Australian dollar. That being the case, I feel that the market will more than likely go down to the 0.95 level before it's all said and done, where it should find significant amount of support.
The GBP/AUD pair tried to rally during the session on Friday, but as you can see got stuck above the 1.69 level, an area that has been rather supportive in the past.
The USD/JPY pair fell during the bulk of the session on Friday, but as you can see bounced high enough off of the 97 level in order to form a hammer.
Last week was a slightly bearish doji, the most significant things about it were its high (at almost exactly the expected 1.6250 resistance level) and its close, which was just below the resistance level at 1.6177.
End the month of October with this forecast of some of the major Forex pairs.
The XAU/USD pair scored a gain of 1.01% on Thursday as weakness in the American dollar continued to lure some investors back into the market.
The WTI Crude markets fell during the session on Thursday, but found the $96 level supportive as we had anticipated previously. That being the case, there's this market is going to find some support in this general vicinity, and should be noted that the candle for the Thursday session is in fact a hammer, one of my favorite bullish scenarios.