Gold prices ended Friday's session up 0.4%, or $4.30, to settle at $1188.38 an ounce as U.S. jobs data eased investors’ concerns about how soon the Federal Reserve would raise interest rates.
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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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Get the Forex forecast using quant and chart reading for some of the major currency pairs for the week of May 11, 2015 here.
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Check out the Forex forecast for the week of May 11, 2015 here.
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Gold prices settled lower yesterday, extending losses from the previous session, as the greenback continued to recover on the back of better than expected jobless claims data.
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The EUR/USD fell during the session on Thursday, as we get ready for the Nonfarm Payroll numbers out of the United States today.
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Get the USD/CAD Forex signal for May 7, 2015 here.
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Get the AUD/USD Forex signal for May 7, 2015 here.
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Get the EUR/USD Forex signal for May 7, 2015 here.
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Check out the USD/JPY Forex signal for May 7, 2015 here.
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Get the GBP/USD Forex signal for May 7, 2015 here.
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The EUR/USD pair had a very strong showing on Wednesday, as it now appears that it’s only a matter time before we break out and above the 1.15 handle. With that being the case, I think that short-term traders will continue to buy this pair based upon pullbacks that offers supportive candles.
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The USD/JPY pair fell during the session on Wednesday, showing the 120 level to be a bit too resistive. Because of this, it appears that the market is going to head back down towards the bottom of the consolidation area that we have been in for some time.
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The AUD/USD pair initially rose during the session on Wednesday, and even broke above the well-known 0.80 resistance barrier. However, just as it did last time we broke above this level, the market turned back around and formed a shooting star.
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The GBP/AUD pair initially fell during the session on Wednesday, but as you can see turned things back around to form a hammer at the 1.90 level.
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The EUR/GBP pair rose during the session on Wednesday, breaking above the 0.74 handle. This is an area that I think is very interesting to pay attention to because I think there is a significant amount of resistance all the way to the 0.75 handle.
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