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 XAU/USD declined 1% for the week as the conditions in the marketplace dulled desire for safe haven diversification. The latest reports released from the Unite States provided further evidence that the labor market and economy are strengthening.
The WTI Crude Oil markets rose during the majority of the session on Friday, but found the $101 level to be far too resistive.
Check out the Forex signal for the USD/JPY pair here.
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Check out the Forex signal for the GBP/USD pair here.
Check out the Forex signal for the EUR/USD pair here.
The EUR/USD pair fell hard during the session on Friday, slamming into the 1.3750 support level. That being the case, the market of course looks very bearish but we now find yourselves testing support.
The USD/JPY pair rallied during the session on Friday, bouncing off of a longer-term trend line that has been supportive over the longer term.
The EUR/CAD pair went back and forth during the session on Friday, hovering around the 1.50 level. This is obviously a major psychologically significant number, so really doesn’t surprise me that buyers and sellers both stood up and took notice during the session.
The EUR/JPY pair initially tried to rally during the session on Friday, but turned back around almost immediately and then fell directly to the 140 level.
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Check out the weekly forecast for some of the major Forex pairs here.
Gold weakened against the American dollar for a third session on Thursday but the trading range was relatively tight. It appears that better than estimated U.S. data and gains in U.S. equities dulled the shiny metal's attractiveness.
The WTI Crude Oil markets fell during the majority of the session on Thursday, finding the $101 level to be significant resistance. With that, the reality is that the market probably fell slightly because the $101 level has been support and resistance in the past.
The EUR/NZD pair tried to rally during the session on Thursday, but the Euro got beat down against the New Zealand dollar, as it was against most other currencies.
The GBP/USD pair initially tried to rally during the session on Thursday, but as you can see the sellers stepped back into the marketplace and pushed the market down.
The USD/JPY pair fell during the session on Thursday, but found the 101.50 level to be supportive yet again. This is an area that has been supportive time and time again, but at the end of the day we recognize that the candle close towards the bottom of the range.