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
Forex Technical Analysis
The USD/JPY pair gapped higher at the open on Monday, as the US dollar continues to be one of the more favored currencies out there. That being the case though, the market then spent the rest of the day falling backwards to find support.
The EUR/CAD pair initially fell during the course of the day on Monday, just as the Euro lost against almost all currencies. However, the Canadian dollar is a little bit of an outlier when it comes to currencies at the moment as it has been weaker than most.
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Get the USD/CAD weekly Forex signal for August 25, 2014 here.
Get the bitcoin forecast for August 25, 2014 here.
The XAU/USD (Gold vs. the American dollar) settled slightly higher on Friday, marking the first rise in six trading sessions, as resurfacing Ukraine jitters lead some investors to take profit off the table.
The EUR/USD pair went back and forth during the day on Friday, testing the 1.33 level for resistance, and then turned back around to fall and show the 1.33 level has been too much for the buyers.
The AUD/USD pair rose during the course of the day on Friday, but gave back about half of the gains. What is more important to me is the fact that we broke the top of the hammer from the Thursday session, and the top of the shooting star from the Wednesday session.
The USD/JPY pair had a pretty volatile session on Friday, as the market shot above 104, pullback, and then shot higher. We closed just below the 104 level at the end of the day, and as a result I believe that the market is trying to get above that handle.
The USD/CAD pair initially tried to rally during the course of the day on Friday, but as you can see we fell back down and formed a shooting star.
The EUR/NZD pair fell during the session on Friday, as we continue to hang around the 1.58 level. The Euro itself is in trouble overall, but then again so is the New Zealand dollar.
Check out the weekly Forex forecast for August 24, 2014 here.
The XAU/USD pair extended its losses on technical selling and growing perception that the U.S. Federal Reserve is looking to withdraw policies that have been in place for years.
The WTI Crude Oil market had a fairly positive session during the day on Thursday as you can see, using the $92.50 level as support. The candle is a bit of a hammer, and it does suggest a perhaps a bounce is imminent.
The EUR/USD pair fell initially during the session on Thursday, testing the 1.3250 level, and finding support there. This support cause the market to bounce and form a hammer, which of course is a fairly bullish sign.