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 rather hard during the session on Tuesday, testing the 1.1150 level. With that, it appears that the market is going to try to find buyers between here and the 1.10 level, and as a result I am actually waiting for a supportive candle in order to go long.
The GBP/USD pair fell during the course of the session on Tuesday, testing the 1.55 level. This was an area that was previously resistive, so it should now be supportive.
Gold prices fell 1.44% yesterday, snapping five consecutive days of gains, and settled at $1207.53 an ounce as the dollar rallied on the back of encouraging housing data.
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Get the Forex forecast for major pairs for the week of May 18, 2015 here.
Get the AUD/USD Forex signal for May 19, here.
Get the USD/JPY Forex signal for May 19, here.
Get the GBP/USD Forex signal for May 19, here.
Get the EUR/USD Forex signal for May 19, here.
The EUR/USD pair had a fairly negative session on Monday as traders came back from the weekend. It seems that we continue to struggle out the 1.14 level, which of course is a not a huge surprise to me, because we are testing the last vestiges of true resistance.
Looking at the silver markets in the spot index, you can see that we have broken above the $17.50 level during the session on Monday, and out of the previous large consolidation area.
The WTI Crude Oil markets did very little during the session on Monday as traders came back from the weekend. It appears that the market is essentially settling at the $60 level, and as a result there isn’t much to do.
Gold prices initially advanced on Monday but encountered resistance below the 1235 level as a rebound in the dollar prompted investors to take profits after the precious metal's sharp rally the week before.
Get the AUD/USD Forex signal for May 18, 2015 here.
Get the USD/JPY Forex signal for May 18 2015 here.
