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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Gold prices dropped $13.57 an ounce yesterday, extending losses into a second session, as concern about the strength of the global economy and the timing of a U.S. interest rate hike kept pressure on commodity prices.
The EUR/USD pair initially fell during the course of the session on Monday, but found enough support to turn things back around and form a fairly positive candle.
The GBP/USD pair initially broke higher during the course of the session on Monday, but turned back around to form a fairly negative looking shooting star by the time we closed.
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The EUR/CAD pair broke higher during the course of the session on Monday, as we continue to see buyers step in and pushes the market higher.
The US Dollar trade was subdued ahead of a busy week of data points from across the globe. Markets are waiting to see if the data will show any improvement in growth in China and if inflation has finally started to edge higher in the Eurozone.
The USD/NOK pair initially went much higher during the course of the day on Friday, cracking above the 8.56 handle.
The USD/CAD pair went back and forth during the course of the day on Friday, essentially settling on a very neutral candle.
The USD/JPY pair broke out initially during the course of the day on Friday, clearing the downtrend line in the triangle that we have been forming for some time now.
The USD/MXN pair fell initially during the course of the day on Friday, but found support near the 16.70 region.
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The EUR/USD pair initially fell during the course of the day on Friday, but bounced enough to form a bit of a hammer. It showed yet again that the 1.11 level offered support, as it has several times already.
Gold prices ended Friday's session down $8.28, to settle at $1145.60 an ounce as the dollar pared losses after a report showed the U.S. economy grew more than forecast in the second quarter.
Get the Forex forecast using quant vs chart reading analysis for major currency pairs for the week of September 27, 2015 here.
Check out the Forex forecast for major currency pairs for the last week of September 2015 here.
The EUR/USD pair initially tried to rally during the day on Thursday, but found quite a bit of resistance near the 1.13 level. By doing so, we ended up forming a bit of a shooting star, and it now appears that this market really isn’t ready to do anything for any real length of time.
The GBP/USD pair is showing significant support after the Thursday session, as we tested the 1.52 handle for support.