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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Check out the weekly signal for the USD/JPY pair here.
According to the analyses of the CHF/JPY and GBP/CAD pairs, trader profited on a binary options platform. See how here.
Check out the weekly Forex forecast for the week of November 18, 2013 here.
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Last week produced a bullish inside candle that closed close to its high. The action has reversed from the 50% Fibonacci retracement level of the recent upwards move, and at the end of last week broke above the weak resistance from 1.3440 to 1.3465.
The USD/JPY pair went back and forth on Friday, but the market still looks like it wants to go higher based upon higher time frame charts such as the weekly. Having said that, I'm still bullish of this market although there is the possibility that we get a little bit of a pullback here.
The GBP/USD pair rose during the session on Friday, breaking the top of the neutral candle that we had printed on Thursday.
The USD/CAD pair fell slightly during the session on Friday, continuing to grind sideways as the pair typically does.
The AUD/CAD pair rose during the session on Friday, bouncing off the 0.9750 level again. This is an area of consolidation and I find interesting, simply because we have the Australian dollar looking like it's trying to find support against the US dollar, then this market does tend to mirror that one.
The WTI Crude Oil markets continue to look a bit weak overall, as the market seems to be content sticking around the $94 level. This area looks as if it could be a bit of accumulation, or possibly the calm before the storm so to speak, as we go lower.
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Gold settled at $1287.95 an ounce on Friday, as investors decided to take some of profit off the table prior to the release of the Federal Open Market Committee meeting minutes.
The chart shows clearly that there has been a bullish breakout of the long-term triangle. The last two weeks have produced very bullish candles following the bullish reversal candle of three weeks ago.
According to the analyses of the GBP/USD and USD/JPY pairs, trader profited on a binary options platform. See how here.
According to the analyses of the GBP/USD and EUR/USD pairs, trader profited on a binary options platform. See how here.
The AUD/CAD pair fell during the session on Thursday, testing the bottom of the hammer that had formed on Wednesday.
The GBP/JPY markets rose during the session on Thursday, slicing through the 160 handle without much fanfare.