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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Get the AUD/USD Forex signal for July 20, 2015 here.
Get the USD/JPY Forex signal for July 20, 2015 here.
The EUR/USD pair broke down during the session on Friday, clearing the bottom of the hammer that formed on Thursday. Because of this, I feel that this market is ready to continue breaking down now, and it’s probably only a matter of time before we try to reach the 1.05 level.
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The USD/JPY pair stalled during the session on Friday, as we simply could not get above the 124 level for any real length of time. However, we’ve seen a pretty impulsive move to the upside off of the uptrend line that is on this chart, and as a result I think that the buyers are still involved.
The USD/CAD pair broke higher during the course of the day on Friday, and actually broke just above the 1.30 level at one point during the day. However, we cannot hang onto the gains and we pulled back to form a bit of a shooting star.
The USD/SGD pair fell during the course of the session on Friday to test the 61.8 Fibonacci retracement level of the recent downtrend. That area offered support, and as a result it appears that it is now going to be supportive going forward.
The EUR/GBP pair initially tried to rally during the course of the day on Friday, but as you can see the 0.70 level above was once massive support, so it should now be resistance. With that being said, I look at the longer-term charts and see that there is a cluster of support all the way down to the 0.66 handle.
Get the USD/CHF Forex signal for July 20, 2015 here.
Get the GBP/USD Forex signal for July 20, 2015 here.
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Get the EUR/USD Forex signal for July 20, 2015 here.
Gold settled on Friday at their lowest level in more than five years, as technical pressure and concerns over the prospects of rising U.S. interest rates fueled a loss of more than 2.4% for the week.
Get the Forex forecast using quant vs. chart reading analysis for the week of July 20, 2015 here.
Get the Forex forecast for the week of July 19, 2015 here.
Gold prices fell $4.32 an ounce yesterday, down for the fourth straight session to $1145.06, as growing perception that the Fed will begin to increase interest rates in September continued to weigh on the market.
Looking at the EUR/USD pair, one of the first things I notice is that we did in fact break down below the 1.09 level.