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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According to the analysis of the GBP/USD and AUD/USD pairs, trader profited on a binary options platform. See how here.
Signs of progress in resolving the U.S. budget crisis increased demand for the American dollar and lured investors away from the precious metal. There are rumors that Democrats and Republicans were nearing a deal to end a partial government shutdown and suspend the debt ceiling through February 2014.
The WTI Crude Oil market continues to meander right around the $102 level, and finding the $101 level be supportive still. The area has been rather resilient, and as a result I believe that the markets will continue to find a reason to bounce from this area.
The EUR/USD pair rose during the session on Monday, but as you can see failed to hang onto any gains. In fact, it formed what could be considered to be a perfect shooting star, in this signifies that we could perhaps pullback at this point.
The GBP/USD pair tried to rally during the session on Monday, but as you can see found far too much resistance at the 1.60 level in order to stay above it. The resulting candle is a shooting star, and that is a negative turn of events obviously.
The AUD/USD pair rose during the session on Monday, breaking through the 0.95 handle finally. In fact, this market now looks like it's poised to breakout to the upside, and finally get above the 0.9550 level that I have been looking for in order to start buying.
The USD/CAD pair did very little during the session on Monday, continuing to hang about the 1.0350 handle. It does show that there is a little bit of support there, and as a result the hammer like candle that printed for the session is not much of a surprise.
Aussie versus the US Dollar is still on an uptrend since the end of August, from .89 to currently at .9472. Short-term immediate support at .9425, and could trade on the long side, with that level as a stop.
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The WTI Crude Oil markets fell during the majority of the session on Friday, but as you can see found enough support right around the $101 level in order to bounce and form a nice looking hammer.
The long-term upwards trend is still entirely intact. Last week was a bullish reversal candle, but it only closed about halfway up its range, so it is not a very reliable bullish sign.
Begin the trading week with a signal for the EUR/USD pair here.
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Last Wednesday, the price did actually close lower than the previous Friday’s low. However, the daily candle did not close within the lowest quartile of its range, now was this low broken the next day.
The EUR/USD pair rallied during the session on Friday, but as you can see gave back about half of the gains in order to form a shooting star. The shooting star is sitting just above a significant support zone in the form of the 1.35 handle, so I'm not particularly concerned about any weakness that the Euro could show at this point.