Gold snapped three consecutive days of gains as the greenback edged higher and global equities markets saw a modest rebound after upbeat U.S. private sector jobs data boosted optimism.
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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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The EUR/USD pair fell during the session on Tuesday, as we have broken below the 1.19 level. However, there is a significant amount of support all the way down to the 1.18 handle in my opinion, and I believe that we are essentially in a 200 pips wide support zone.
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The GBP/AUD pair initially fell during the course of the day on Tuesday, but as you can see bounced enough to form a nice-looking hammer. That hammer of course is suggestive of buying pressure, and a break above the top of the hammer is a classic technical analysis signal to start buying.
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The USD/JPY pair fell slightly during the session on Tuesday, but as you can see is still well elevated overall. It would take a significant meltdown to change the trend of this pair, so I am essentially either buying or sitting on the sidelines.
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The GBP/USD pair broke down during the course of the Tuesday session, and even broke below the hammer that had formed on Monday.
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The EUR/GBP pair initially rallied during the session on Tuesday, but as you can see pullback at the 0.75 zero level in order to form a shooting star.
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Gold prices ended Tuesday's session up 1.32%, or $15.64, to settle at $1218.34 an ounce as Greece’s political crisis and a tumble in global equities buoyed the precious metal’s safe-haven appeal.
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Get the GBP/USD Forex signal for January 7, 2015 here.
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Get the USD/JPY Forex signal for January 7, 2015 here.
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Get the EUR/USD Forex signal for January 7, 2015 here.
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Get the USD/JPY Forex signal for January 6, 2015 here.
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Get the GBP/USD Forex signal for January 6, 2015 here.
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Get the EUR/USD Forex signal for January 6, 2015 here.
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Gold prices advanced on Monday to log their highest settlement in nearly three weeks as political turmoil in Greece and weakness in equities spurred demand.
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The EUR/USD pair has broken down significantly for several months now. In fact, the descent of the value of the Euro has been surprising to almost all who have been watching it, as the selloff has been absolutely brutal.
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