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 EUR/USD pair rose during the session on Monday, breaking well above the 1.32 handle as we reenter the previous consolidation area. This previous consolidation area runs from the 1.32 area on the bottom to the 1.34 area on the top.
The GBP/USD pair rose during the session on Tuesday, slamming into the 1.5750 level. This area has been rather resistive in the past, so I believe that this market will struggle to get above it. However, this is a nice area to watch as it is an inflection point, and that means that we will certainly see some type of decision made.
The AUD/USD pair rose during the session on Tuesday, slamming into the 0.93 handle again. However, this area has been rather resistive lately, so it'll be interesting to see how this market reacts.
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Last week was a strong bullish reversal candle, and this week we have already broken the high of the bearish reversal candle of three weeks ago at 0.9233.
The week before last was a bearish reversal candle. This was then followed by a bearish week last week, but there was a bullish bounce from support at 1.31 which has continued to date.
The XAU/USD pair continues to bounce in a tight range since yesterday as the market has no idea where to go. The demand for safe-haven gold decreased after President Barack Obama said he isn’t confident that Congress will authorize military strikes against Syria.
A look at the technical indicators for USD/JPY without the distraction of fundamentals and macro will paint an interesting picture that is certainly worth looking at.
Check out the weekly Forex signal for the EUR/GBP pair here.
Last Tuesday, the price reached within 10 pips of the previous week's high after the bullish momentum had begun to stall, ultimately forming a bearish reversal candle. It had a long lower wick, but it was still a reversal and therefore adequate for a short which would be nicely profitable by now.
According to the analysis of the AUD/USD and USD/CAD pairs, trader profited on a binary options platform. See how here.
Last week was a bullish reversal candle, it also closed above the previous week's high, and the open of the week before that. This indicates bullishness, showing that we can expect 1.5680 before we reach 1.5504, in fact getting back up to the resistance zone between 1.5730/50 first is likely.
Although the XAU/USD (Gold vs. the American dollar) pair fell for most of the week, it had a nice bounce during the Friday session after August payrolls growth came in short of expectations.
The WTI Crude Oil markets took off during the session on Friday in response to the nonfarm payroll numbers coming out of the United States. The numbers were disappointing, and this has traders out there thinking that the Federal Reserve may not be able to taper off of quantitative easing in the next month or two.
