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 initially fell during the course of the session on Monday, but as you can see found enough support at the 121 level to turn things back around to form a hammer.
The AUD/USD pair tried to rally during the course of the session on Monday, but found the 0.77 level to be a bit too resistive. With that, we ended up turning back around and forming a shooting star.
Gold prices settled lower on Tuesday but remained within the range of the previous 4 trading sessions. Not surprisingly, markets are in a cautious mode ahead of the Federal Reserve’s two-day policy meeting which begins today.
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Get the USD/JPY Forex signal for March 16, 2015 here.
Get the GBP/USD Forex signal for March 16, 2015 here.
Get the EUR/USD Forex signal for March 16, 2015 here.
Gold ended the week down by 1% at $1157.66 per ounce as concerns grew over the prospects of rising U.S. interest rates pushed the dollar to multiyear highs and investors’ appetite for the precious metal as an alternative investment.
The EUR/USD pair fell during the session on Friday again, testing the 1.05 level. At one point during the day, we actually broke below that level, which of course for me is a very negative sign.
The NZD/USD pair fell during the session on Friday, as the US dollar strengthened against many of its counterparts.
The GBP/USD pair broke down below the 1.48 level on Friday, which was the bottom of the support zone that I had been talking about recently.
The USD/JPY pair fell slightly during the Friday session, but quite frankly it seems like we are stuck in the general vicinity of the 121 handle.
Get the Forex forecast for some of the major currency pairs for the week of March 16, 2015 here.
Get the Forex forecast learning about quant vs chart reading for the week of March 15, 2015 here.
Gold prices ended Thursday's session nearly unchanged after a volatile day that saw prices swing between gains and losses as the bulls and bears struggle for near-term control.