The XAU/USD pair (Gold vs. the American dollar) fell 1.69% on Tuesday, extending its losses to a third straight session, and touched the lowest level since June 18.
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Get the recommendation for the GBP/USD pair with this free Forex signal for September 3, 2014 here.
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Check out the EUR/USD Forex signal for September 3, 2014 here.
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The EUR/USD pair initially fell during the session on Wednesday, but bounced enough to form a nice-looking hammer. This hammer is just after forming a shooting star, and with that being the case the market looks as if it is ready to perhaps go sideways in general.
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The NZD/USD pair fell during the course of the day on Tuesday, smashing into the 0.83 handle. That level offered support though, as we bounced from there. At the end of the day though, I believe that the market will continue to go down from here, especially as the commodity markets all look so soft.
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The EUR/AUD pair had a very positive session on Tuesday, but as you can see we are coming up upon what used to be significant support at the 1.42 level.
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The USD/JPY pair broke much higher during the day on Tuesday, breaking above the 105 level. That was an area that should have been massively resistive, so it doesn’t surprise me that we pull back a little bit.
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The EUR/CHF pair is one that I have not been involved with for quite some time. This is mainly because the Swiss National Bank put a “floor” in this market at the 1.20 level, and as a result the market should continue to respect that area.
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Get the USD/JPY Forex signal for September 2, 2014 here.
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Get the GBP/USD Forex signal for September 2, 2014 here.
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