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 West Texas Intermediate market rose during the session on Thursday, plowing into the $95.50 level as you can see, which has significant and the fact that it is the top of the recent consolidation area that we've been monitoring.
Gold prices continued to slide yesterday and fell to the lowest since July 9 as the conditions in the marketplace have dulled the precious metal’s safe-haven appeal. The XAU/USD pair has seen quite a selloff lately and so far there is no sign of exhaustion.
The USD/CAD pair went back and forth during the session on Wednesday, but as you can see is closing the day slightly negative.
The GBP/CHF pair rose during the session on Wednesday, testing the 1.48 level yet again. This level has offered resistance lately, but in the end, I believe it will eventually be overcome.
The EUR/CAD pair fell hard during the session on Wednesday as it was announced that the European Central Bank could possibly do miniature rate cuts in order to boost the sagging European economy.
The EUR/USD pair fell hard during the session on Wednesday, slicing through the 1.35 handle as comments out of the European Central Bank suggested that a miniature rate cut could happen if the economy so warranted it.
The WTI Crude Oil markets initially fell during the session on Wednesday, but bounced back in order to find enough support to form a hammer. This hammer just continues the long line candles that show.
The XAU/USD pair (Gold vs. the American dollar) broke below the 1268 support level printed another bearish candle yesterday.
Last week printed a bullish inside candle. Note though that it was unable to close above the 50% Fibonacci retracement level at around 1.3500, and that this week's break upwards through the level has reversed strongly, with this week's candle currently showing a bearish pin bar rejecting that level.
Last week printed a small bullish pin bar sitting on the established support level of 0.9279 which is both a double bottom and resistance turned into support.
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The USD/CAD pair initially fell during the Tuesday session, but found enough support above the 1.04 handle in order to bounce and form a fairly supportive and positive looking candle.
The GBP/USD pair initially fell during the session on Tuesday, but found enough support at the 1.6050 level in order to bounce and form a hammer. This hammer of course is very supportive, and as a result I believe that this market is going to go higher.
The AUD/CAD pair initially fell during the session on Tuesday, but found the 0.9750 level as being supportive enough to push the market much higher.
The EUR/USD pair initially fell during the session on Tuesday, two fall back below the 1.35 handle.
