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.
During the session on Thursday, the market tried to break out and smash through the 1.28 resistance barrier, an area that I have pointed out has being significant. Because of this, the sellers step in and push the market back down.
The USD/CAD pair initially tried to fall a little bit during the session on Thursday, but found enough support at the 1.11 level to turn things back around and have a positive day.
The EUR/USD pair rose during the course of the day on Wednesday, breaking above the 1.27 level
The EUR/GBP pair broke higher during the course of the day on Wednesday, slicing through the 0.7875 handle.
The USD/JPY pair fell a bit during the session on Wednesday, testing the 108 level for support.
The AUD/USD pair initially fell during the course of the day on Wednesday, but ended up turning around and slicing through the 0.88 level, blowing through a significant amount of resistance.
The NZD/USD pair rose during the course of the day on Wednesday, breaking the top of the shooting star from both Monday and Tuesday.
The XAU/USD pair extended its gains yesterday and hit the highest level in eight sessions as the American dollar weakened across the board after minutes from the Federal Open Market Committee's September policy meeting showed that interest rates could remain highly accommodative longer than previously thought.
BTC/USD had a very flat session yesterday after witnessing further selling pressure in early trading. Many traders and followers of Bitcoin are of the view that post the massive volatility seen in the last couple of days, weak hands from the market may well have been forced to exit and only strong hands are now in the market.
Gold prices rose for a second-straight session on Tuesday as increasing demand for protection against volatility in the global equities drove up buying of safe-haven assets.
The EUR/USD pair initially fell during the course of the day on Tuesday, but as you can see that the buyers stepped in below the 1.26 level in order to push the market higher.
The GBP/USD pair tried to rally during the session on Tuesday, and obviously did so. However, the 1.61 level offered a bit of resistance, and it appears that the market will continue to struggle to go higher.
The USD/JPY pair had a pretty negative session on Tuesday, as the US dollar sold off yet again. However, the reality is that this market is most certainly in an uptrend, and we would have to fall rather dramatically to change that as far as I can see.
Check out the GBP/USD Forex signal for October 8, 2014
Check out the USD/JPY Forex signal for October 8, 2014
