Gold prices ended the week down nearly 1% as increasing demand for the American dollar curbed the metal's appeal as an alternative investment.
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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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The EUR/USD pair fell significantly during the session on Thursday, crashing towards the 1.11 level. That is an area that should be supportive, and as a result we did in fact bounce from there.
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The EUR/CAD pair fell during the session on Thursday, slicing below the 1.4750 handle. However, we did bounce a little bit towards the end of the day and as a result we could find ourselves bouncing back above the 1.4750 level.
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The EUR/CHF pair initially tried to rally during the course of the day on Thursday, but found enough resistance near the 1.09 level to turn things back around and fall towards the 1.08 level.
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The USD/JPY pair fell during the course of the day on Thursday, cracking the 120 handle.
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The AUD/USD pair initially tried to rally during the course of the session on Thursday, but as you can see turned back around somewhere near the 0.71 handle.
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The EUR/USD pair fell during the session on Wednesday, testing the 1.12 level. We formed a shooting star on Tuesday, so the pullback couldn’t have been a massive surprise, but at the end of the day there’s also a hammer from the Monday session.
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The USD/CHF pair broke higher during the course of the day on Wednesday, breaking the top of the shooting star that had formed on Monday. With this, I believe that the buyers are starting to take over again.
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The USD/JPY pair fell during the session on Wednesday, breaking below the 120 level at one point in time. We found enough support below there to turn things back around and form a bit of a hammer, and that of course mirrors what we saw during the Tuesday session.
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Looking at the AUD/USD pair, you can see that we initially fell during the session on Wednesday. However, we found the 0.70 level below as supportive.
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Gold prices dropped on Wednesday, marking the first loss in four sessions, as a stronger dollar and gains in equity markets sapped demand for safe havens. XAU/USD is trading at $1132.53, slightly lower than the opening price of $1133.65.
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Get the NZD/USD Forex signal for September 2, 2015 here.
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Get the AUD/USD Forex signal for September 2, 2015 here.
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Get the USD/JPY Forex signal for September 2, 2015 here.
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Get the USD/CHF Forex signal for September 2, 2015 here.
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