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 GBP/USD pair fell initially during the course of the session on Friday, and as a result dropped below the 1.55 handle. The area below there should be massively supportive though, and as a result we feel that the markets probably will turn back around and start going higher again.
The GBP/CHF pair initially fell during the course of the session on Friday, but found enough support near the 1.4850 level in bounce significantly and form a nice-looking hammer.
The EUR/CHF pair initially fell during the course of the session on Friday, testing the 1.05 level for support. Having said that, the market turned back around and bounced off of the support, forming a relatively strong looking hammer like candle.
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The NZD/USD pair went back and forth during the course of the session on Friday, ultimately forming a slightly negative candle for the session.
The USD/SGD pair tried to break out during the session on Friday, but struggled later in the day at the 1.3750 level. By doing so, we pullback and formed a shooting star which of course is a fairly bearish sign.
Gold prices ended Friday's session up $8.72, to settle at $1099.09 an ounce as weaker-than-expected data from the U.S. and declines in global equity markets sparked some short covering.
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Get the Forex weekly forecast for major currency pairs like the EUR/USD, USD/CAD and more for the week of July 27, 2015 here.
The EUR/CHF pair rose during the course of the session on Thursday, after initially falling. By breaking well above the 1.05 handle, the market looks like it is getting ready to go towards the 1.06 handle, which is where I think that the market truthfully breaks out
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The NZD/USD pair initially tried to rally during the course of the session on Thursday, but found enough resistance at the 0.67 level to turn things back around and form a shooting star.
The EUR/CAD pair broke higher during the session on Thursday, as we continue to see the uptrend in this pair. The Euro has been breaking higher all day, and as a result it makes perfect sense that we should continue to go higher.
The GBP/USD pair initially tried on Thursday, as the 1.57 level offered far too much in the way of resistance. The market fell significantly at that point in time, and crashed into the 1.55 level.
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Sign up to get the latest market updates and free signals directly to your inbox.Gold prices initially rose during yesterday's Asian session but the market encountered resistance around the $1103 level as sellers stepped in.
Statistics show that entering trend trades during the summer months is a fruitless quest with a negative expectancy. The old cliché “sell in May and go away” seems to be based on cold hard facts. Let’s take a look and what has been moving and try to find out the reasons why.
During the session on Wednesday, the CAD/CHF pair fell during the course of the day. Granted, it wasn’t a massive move lower, but the one thing that I am cognizant of is the fact that the Canadian dollar itself is getting pummeled as the oil markets simply cannot rally at all.