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 went back and forth on Friday, ultimately settling on a slightly negative candle. That being the case, the market should continue to meander around this general vicinity, an area that this market has been attracted to for some time now.
The USD/CAD pair fell hard during the session on Friday, breaking below the 1.08 level. This was an area that I thought was going to hold as support, and since we are broken down below it, I believe that this is a fairly significant signal at this point.
The USD/JPY pair tried to rally during the session on Friday, but as you can see it really didn’t gain any significant traction. The market seems to be essentially stuck in this general vicinity, as the 102 level seems to be essentially “fair value.”
Get the weekly forecast for some of the major currency pairs for June 23, 2014 here.
Get the forecast for Bitcoin for the week of June 22, 2014 here.
Gold prices rose for a second straight session on Thursday and reached their highest level since April 15 as weakness in the American dollar and intensifying unrest from Iraq to Ukraine buoyed the metal’s safe-haven appeal.
The WTI Crude Oil markets fell during most of the session after initially gapping higher on Thursday. The market bounced off of the $105 level, which of course was the site of a massive breakout from the ascending triangle, and with that I feel that the market bouncing from here and forming a hammer suggests that we will continue to go higher.
The silver markets had an absolutely explosive session on Thursday, slicing through the $20 level like it wasn’t even there. That area has been rather resistive, but recently I have been pointing out that it appears the market is trying to build up enough momentum to breakout.
The EUR/USD pair rallied during the majority the session on Thursday, but found the 1.36 level to be a bit resistive, and pull back from the highs in order to form a fairly nice-looking shooting star.
The AUD/USD pair initially shot higher during the day on Thursday, but found enough resistance above at the 0.9450 area to turn things back around and form a shooting star.
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Get the latest on Bitcoins with this forecast for June 19, 2014 here.
The XAU/USD pair closed yesterday’s session higher than opening after two consecutive days of losses. Gold strengthened against the American dollar after the U.S. Federal Reserve said that it will keep rates low for considerable time.
The WTI Crude Oil markets fell during the session on Wednesday, as we continue to drop in value. However, the $105 level below should continue to be supportive as it was the resistance from the top of the ascending triangle, which should now offer buyers as the market has clearly shown itself to be bullish.
The silver markets initially fell during the session on Wednesday, but as you can see found the hammer from the Tuesday session supportive enough to push the market higher. Get the full Silver analysis for June 19, 2014 here.
