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 USD/CAD pair had another negative session during the Thursday trading hours, but has again seen the 0.98 handle step in and provide support. I currently think this pair is more bearish than bullish, and I believe that the 0.99 giving way as support was a significant move.
The USD/MXN pair is one that many of you probably don't follow, and therefore miss out on an excellent commodity currency to trade. A Mexican peso is highly leveraged to the oil market most of the time, and as a result it takes advantage of the fact that Mexico drills so much crude oil out of the Gulf of Mexico and exports into the United States.
The gold market appears to be stable with the bulls and bears gaining and losing ground almost equally during the Asian session. Right now the battle continues to intensify in the 1700-1694 zone.
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According to the analysis of the GBP/JPY and USD/CAD trader profited on a binary options platform.
XAU/USD (gold vs. the American dollar) rallied yesterday after the Federal Open Market Committee said the Federal Reserve will buy $45 billion a month of treasury securities starting in January to bolster the economy.
The USD/CAD has been marching south for the last 4 weeks for the most part. The strength is attributed to both a strong Canadian economy and a weakening US Dollar.
The EUR/USD pair had a productive and profitable day as the Euro gained against the Dollar after the Federal Reserve announced that it was going to expand its monetary policies far into the future.
The GBP/JPY pair had an outstanding session on Wednesday as the market skyrocketed towards the 135 handle. However, we could not break that level, and as a result we did selloff a little bit towards the end of the day.
The USD/CAD pair fell during the session as the Federal Reserve announced that it was extending quantitative easing out into the future. The bond buyback program was sent to and at the end of this month, and the fact that the Federal Reserve is willing to extend that should continue to keep interest rates rather low.
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According to the analysis of the AUD/USD and EUR/USD trader profited on a binary options platform.
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XAU/USD is consolidating in a relatively small range during the Asian session today. Yesterday XAU/USD found support at the 1705 level as the American dollar remained under the pressure on expectations the Federal Reserve will take further monetary easing steps.
The EUR/USD pair had a smashing day during the session on Tuesday as the market closed above the 1.30 level to put an exclamation point on the bullishness. Although I don't personally like the Euro in general, I do believe that this move is indicative of what's going on overall in the marketplace.
The GBP/CHF is one of my favorite pairs. This is because it tends to be very volatile, but very technically driven at the same time. Being a technical trader, this obviously appeals to me, and my preferred method of trading.