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 NZD/CAD pair initially tried to rally during the course of the day on Friday, and as you can see failed. On the chart, you can see where I had the uptrend line from a couple of days ago marked, and where the market simply could not stay above that line.
The USD/JPY pair broke out during the session on Friday, smashing through the 110 barrier. This is an area that has been massively resistive in the past, so it makes a lot of sense that this would have attracted a lot of buying once we saw the bullish move.
The USD/CAD pair broke higher during the course of the session on Friday, slicing through the 1.13 level during the day.
Check out the GBP/USD Forex signal for November 3, 2014 here.
Check out the USD/JPY Forex signal for November 3, 2014 here.
Get the EUR/USD Forex signal for November 3, 2014 here.
Begin the month of November 2014 with the weekly Forecast for some of the major Forex pairs here.
Gold prices continued to sink yesterday, extending losses from Wednesday's session, and touched the lowest level in nearly 4 weeks on technical selling and upbeat U.S. economic data.
The EUR/USD pair fell during the beginning of the session on Thursday, and as you can see ended up bouncing hard enough off of the 1.2550 level to form a nice-looking hammer.
The GBP/USD pair went back and forth during the session on Thursday, showing signs of support as although we broke down rather significantly on Wednesday, you can see that the sellers ran out of momentum, and that the initial shock of the more hawkish than expected Federal Reserve announcement has worn off.
The NZD/CAD pair bounced during the session on Thursday, using the 0.87 level as support. However, we have only bounced back to test the bottom of the uptrend line that was broken during the Wednesday session.
The USD/CAD pair went back and forth during the day on Thursday, as it continues to hang about the 1.12 handle. This is an area that has attracted a lot of attention lately, and I believe it will continue to do so.
The TRY/JPY pair broke out during the session on Thursday, eclipsing the 49.50 resistance barrier. With that being the case, it appears of the market is ready to go much higher, and although it has been a fairly parabolic move, this pair can move drastically and in short order.
The EUR/USD pair has been falling rather significantly for some time now. The last couple of weeks have been somewhat consolidative though, so that being the case it appears of the market will more than likely try to break down and continue much lower.
The GBP/USD pair has been bouncing around the 1.16 level for most of the month of October. What I find significant is the fact that it is the 50% Fibonacci retracement from the entirety of the uptrend, and that the support has shown itself time and time again.
