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.
Gold prices rose 0.85% yesterday, posting the first gain in four sessions, and settled at $1188 an ounce. Gold’s rebound on Monday came as weak Chinese data spurred speculation that officials will take additional measures in a bid to bolster slowing growth.
Get the AUD/USD Forex signal for May 4, 2015 here.
Get the USD/CAD Forex signal for May 4, 2015 here.
Gold fell to its lowest level in six weeks on Friday as the dollar strengthened and technical factors weighed on the market.
The EUR/USD pair recently broke higher during the session on Friday, clearing the 1.12 level. This is an area where I had anticipated seeing quite a bit of resistance, and quite frankly that’s exactly what we got.
The EUR/CAD pair rose during the session on Friday as all EUR related pairs did. However, this market did the same thing most of the European currency related markets did, pulled back. By the time that the market closed, we ended up forming a shooting star.
The EUR/JPY pair broke higher during the session on Friday, and even broke above the 135 handle. This of course was a very bullish sign, but we sold off at the end of the session in order to form a nice-looking shooting star.
Get the Forex forecast for the week of May 4, 2015 here.
Get the Forex forecast using quant and chart reading for some of the major currency pairs for the week of May 3, 2015 here.
The most reliable pairs to watch for direction during May 2015 are going to be USD/CAD short and GBP/USD long. Get the Forex forecasts for these pairs here.
The EUR/USD pair continued to grind its way higher during the session on Thursday, as the 1.12 level has been broken. With that being said, today is Labor Day in Italy, Switzerland, Germany, and France.
Oil markets have been absolutely brutalized lately, as it wasn’t until recently that we even saw any signs of hope for the buyers. The WTI market had fallen as low as $46 at one point, but now looks as if it has formed some type of major bottom.
The EUR/CHF pair spent most the day going higher on Thursday, but in late day trading ended up falling back down to form a shooting star. There is the 50 day exponential moving average that is coinciding with the recent action at the 1.05 handle, so perhaps a longer-term traders got involved.
According to the analyzes of the EUR/CAD and AUD/USD, trader profited using a binary options platform. Find out how here for April 30, 2015.
Check out the USD/JPY Forex signal for April 30, 2015 here.
