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.
The XAU/USD pair closed slightly higher than opening on Thursday after the weaker-than-anticipated economic data released from the Unite States raised doubt over how quickly the Fed is going to start to raise rates to normalize policy.
The WTI Crude Oil market absolutely collapsed during the session on Thursday, breaking well below the $96.50 level. With that, it shows that the market has broken below significant support, and as a result I think that the oil markets are about to fall apart.
The EUR/USD pair tried to rally during the course of the day on Thursday, but as you can see struggled to hang onto the gains and therefore formed a shooting star for the second day in a row.
The US Dollar Index initially fell during the course of the day on Thursday, bouncing off of the 81.40 level. The resulting bounce formed a hammer, and that of course suggests that we are going to see buying pressure again.
The NZD/USD pair went back and forth during the course of the day on Thursday, as we continue to show significant support just below the trading area that we are and at the moment.
The EUR/GBP pair rose during the session on Thursday, but found the 0.8035 level to be too resistive yet again and we ended up going back to form a shooting star.
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Get the bitcoin forecast for August 14, 2014 here.
The WTI Crude Oil markets went back and forth during the course of the day on Wednesday, showing the $96.50 level to be supportive yet again. We have been consolidating in this general vicinity, so it’s not a surprise that we continue to hang about.
The EUR/USD pair as you can see went back and forth during the course of the day on Wednesday, testing the 1.34 level. With that, the market turned back around and formed a shooting star.
The USD/JPY pair rose during the course of the day on Wednesday, bouncing off of the 102.20 region. The 102 level below is supportive in the sense that it is considered to be “fair value” in this marketplace, being halfway between the support at 101, and the resistance at 103 for this massive consolidation area.
The US Dollar Index fell initially during the session on Wednesday, but the 81.30 level offers support yet again. Because of this, we ended up forming a hammer, which was preceded by a Tuesday shooting star.
Gold gained ground against the greenback for a second consecutive session on Wednesday as disappointing U.S. economic data and developments in the Middle East and Ukraine increased the metal’s safe-haven appeal.
Get the USD/JPY Forex signal for August 14, 2014 here.
The AUD/CHF pair is probably one that you don’t pay very close attention to, but it is at your own risk. After all, the market looks at this as a proxy for risk.
