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 fell during the bulk of the week, and on Friday managed to close below the 1.3550 support level, an area that we have been watching
The XAU/USD pair (Gold vs. the American dollar) scored a gain of 0.94% on Friday as mixed economic data out of the United States continued to lure some investors back to the market.
The WTI Crude Oil markets had a positive session on Friday, but found enough trouble above the $95 level to have me a bit concerned about any bullish moves coming.
The EUR/USD pair fell during the session on Friday, breaking down below the 1.3550 level. This is an area that I have been talking about for some time now as I believe it is very supportive.
The GBP/AUD pair rose during the session on Friday, breaking above the 1.87 level. This is a market that has been in a very strong uptrend, and this of course makes sense considering how the British pound has done fairly well against most currencies around the world recently.
The NZD/USD pair fell hard during the session on Friday, and as a result it looks like the New Zealand dollar is going to face a little bit of selling pressure in the short-term. This market has been very difficult to trade recently, simply because we have been chopping around in a roughly 250 PIP range.
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The USD/JPY pair did almost nothing during the session on Friday, but this still is one of the markets that I’ve been paying the most attention to, as I believe we are setting up for a nice long-term move over the course of the next several months, if not years.
Learn where some of the major Forex pairs are headed with this weekly forecast here.
Gold settled slightly higher on Thursday as pullbacks in equities markets lured some investors back to relative safety of the precious metal. It appears that the performance of the equity market will likely continue to influence the price of gold, so a strong correction in these markets might prompt deep pockets to get back into gold.
The WTI Crude Oil markets fell during the session on Thursday, but as you can see found the $94 level to be supportive yet again. This is an area that has been supportive and resistive in the past, so it’s not very surprising that the market did in fact react to it.