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.
After three consecutive days of gain, the XAU/USD pair closed yesterday’s session lower than opening. The pair initially fell to its lowest level in five days but weaker-than-expected consumer spending data helped gold to recover some of its losses quickly and close at $1316.37 an ounce.
The EUR/USD pair rose during the session on Wednesday, as the US GDP revision came out horribly. With that being the case, the market sold off the US dollar, and by extension the Euro of course got a boost in reaction.
The GBP/USD pair went back and forth during the course of the session on Wednesday, testing the 1.70 level as resistance, and as a result it appears that the market failing there shows that the resistance is in fact still viable.
The USD/JPY pair fell initially during the course of the session on Wednesday, but not enough support near the 101.50 level to bounce enough to form a hammer.
The silver markets went back and forth on Wednesday, as we continue to test the $21.00 level. This level has been resistant, as most recently seen on Tuesday in the form of a shooting star, and as a result it’s very likely that a break above this level could in fact bring in more buyers.
Check out the GBP/USD Forex signal for June 26, 2014 here.
Get the EUR/USD Forex signal for June 26, 2014 here.
The WTI Crude Oil market initially gapped higher at the open on Wednesday, but spent the rest the day falling backwards, only to turn around at the $105.75 level and form a nice-looking hammer.
The XAU/USD pair closed higher than opening as the American dollar lost some strength across the board after the data released by the Commerce Department showed that demand for durable goods slumped in May and the U.S. economy contracted more than previously expected in the first quarter.
Get the USD/JPY Forex Signal for June 25, 2014 here.
Get the GBP/USD Forex signal for June 25, 2014 here.
Get the EUR/USD Forex signal for June 25, 2014 here.
The GBP/USD pair fell hard during the session on Tuesday, slicing through the 1.70 handle. This is an area that I have been telling as significant support, and I still believe it to be.
The AUD/USD pair fell hard during the session on Tuesday, showing the 0.9450 level to be resistive enough to keep the market within the consolidation area that has been so important since the middle of May.
The WTI Crude Oil markets initially gapped lower at the open on Tuesday, but found enough support near the $105.50 level to bounce significantly.
