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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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.
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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.
The EUR/USD pair broke down over the course of the last month, as August was absolutely horrible for the Euro. As you can see on the weekly chart attached this article, we had three hammers in a row that were broken down below with a massively bearish candle.
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The EUR/CHF pair continue to fall during the month of August, but as you can see I have a massive horizontal line at the 1.20 level on this weekly chart. This is because 1.20 is the area that the Swiss National Bank defended so vigorously in the past.
The USD/JPY pair finally broke out to the upside and above the 103 level during the month of August. That being the case, I feel that this market will continue to try to build up bullish pressure, and eventually test the 105 level.