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 USD/CAD Forex signal for May 7, 2015 here.
Get the AUD/USD Forex signal for May 7, 2015 here.
Get the EUR/USD Forex signal for May 7, 2015 here.
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Check out the USD/JPY Forex signal for May 7, 2015 here.
Get the GBP/USD Forex signal for May 7, 2015 here.
The EUR/USD pair had a very strong showing on Wednesday, as it now appears that it’s only a matter time before we break out and above the 1.15 handle. With that being the case, I think that short-term traders will continue to buy this pair based upon pullbacks that offers supportive candles.
The USD/JPY pair fell during the session on Wednesday, showing the 120 level to be a bit too resistive. Because of this, it appears that the market is going to head back down towards the bottom of the consolidation area that we have been in for some time.
The AUD/USD pair initially rose during the session on Wednesday, and even broke above the well-known 0.80 resistance barrier. However, just as it did last time we broke above this level, the market turned back around and formed a shooting star.
The GBP/AUD pair initially fell during the session on Wednesday, but as you can see turned things back around to form a hammer at the 1.90 level.
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The EUR/GBP pair rose during the session on Wednesday, breaking above the 0.74 handle. This is an area that I think is very interesting to pay attention to because I think there is a significant amount of resistance all the way to the 0.75 handle.
Gold prices closed slightly lower on Wednesday, giving back a small portion of the previous day’s gains, as the 1199/7 area continued to offer resistance. U.S. economic data mostly came in worse than anticipated, but the market had a muted reaction.
According to the analyzes of the USD/CAD and EUR/USD, trader profited using a binary options platform. Find out how here for May 6, 2015.
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Sign up to get the latest market updates and free signals directly to your inbox.The EUR/USD pair initially fell during the day on Tuesday, but found enough support near the 1.1050 level to turn things back around and form a hammer.
The AUD/USD pair initially fell during the session on Tuesday, reaching towards the 0.7750 handle. However, the Reserve Bank of Australia surprised the market a bit by suggesting that rates cuts start to be over after the one that we saw on Tuesday.
The NZD/CAD pair fell during the session on Tuesday, but found support exactly where you wanted to see it if you are hoping for a rally.