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
With the Americans and Canadians celebrate Labor Day, a massive part of the trading community would have been gone as far as this particular contract is concerned.
The EUR/USD pair did almost nothing during the session on Monday, which of course makes a lot of sense considering that the Americans and the Canadians both were celebrating Labor Day.
The NZD/USD pair rose during the course of the day on Monday, but keep in mind that liquidity would’ve been a little bit thin during about half of the day. After all, the Americans and the Canadians were celebrating Labor Day, so as a bit of a false impression.
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Get the bitcoin forecast for September 1, 2014 here.
Get the USD/JPY Forex signal for September 1, 2014 here.
Check out the GBP/USD Forex signal for September 1, 2014 here.
Get the EUR/USD Forex signal for September 1, 2014 here.
The XAU/USD pair rose %0.55 over the course of the week as concerns over escalating conflict between Ukrainian troops and pro-Russian rebels in eastern Ukraine increased desire for the relative safety of gold.
The EUR/USD pair fell during the course of the day on Friday, breaking down towards the 1.321 level, an area that in my estimation is a minor support level at best.
The EUR/CAD pair fell initially during the session on Friday, but found enough support near the 1.4250 level in order to bounce and form a hammer for the second day in a row.
The NZD/USD pair tried to rally during the session on Friday, but found the 0.84 level be far too resistive. Because of that, the market turned back around and formed a shooting star for the second day in a row, a very bearish sign.
The USD/CAD pair initially fell during the course of the day on Friday, but found enough support near the 1.08 level to turn things back around and form a hammer. As you know, I have been bullish of this pair for some time now.
The GBP/USD pair initially fell during the session on Friday, but as you can see found enough support near the 1.6550 level. With that, it appears that the market is trying to find a little bit of support near this area, as the 1.65 level below has held the market higher.
Get the weekly Forex forecast for the end of the month of August 2014 here.