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.
The EUR/USD pair had a very volatile session on Monday, as we continue to test the 1.10 level. This is an area of the chart that is rather resistive, and as a result I believe that breaking above it is in fact going to be very bullish sign.
The CAD/CHF pair initially tried to rally during the day on Monday, but found the 0.76 level to be far too resistive. With this, the market pullback and formed a bit of a shooting star. I see that the 0.75 level is just below, and it is in fact an area that has been supportive in the past.
The GBP/AUD pair fell initially during the session on Monday, testing the 1.99 handle yet again. We have seen this several sessions in a row now, as we press up against the 2.00 level.
Gold settled down $1.69 at $1188.99 per ounce on Monday as strength in the dollar weighed on the market and dimmed the metal's appeal.
Get the AUD/USD Forex signal for June 1, 2015 here.
Get the USD/JPY Forex signal for June 1, 2015 here.
Get the GBP/USD Forex signal for June 1, 2015 here.
Get the EUR/USD Forex signal for June 1, 2015 here.
The EUR/USD pair initially fell during the course of the session on Friday, but found enough buying pressure underneath to turn things back around and slammed into the 1.10 level.
The EUR/CHF pair went back and forth during the course of the session on Friday, testing the 1.03 level for support. The candle that form for the day was somewhat neutral, but at the end of the day what’s more important is the fact that the 1.03 level offered support.
The USD/CAD pair initially rose during the course of the session on Friday, but just as we sold during the Thursday session, sellers came back into the marketplace and pushed the market back down below the 1.25 handle.
The USD/SGD pair initially tried to rally during the course of Friday, but as you can see pulled back in order to form a shooting star. This is the second shooting star in a row, and that of course is very bearish as far as I can see.
Gold prices fell for a second consecutive week but still ended the month with a modest gain of $6.37 an ounce. The market initially rallied all the way to the 1225 area but saw significant selling pressure as the bears came back into the marketplace, and eventually retreated towards the support at 1178.
Get the weekly Forex forecast using quant vs. chart reading strategies for the week of June 1, 2015 here.
The EUR/USD pair has been an absolute mess for some time. Over the course of the last couple of months we have bounced from lows at 1.05, all the way to the 1.15 area.
