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/JPY Forex signal for April 20, 2015 here.
Get the GBP/USD Forex signal for April 20, 2015 here.
Get the EUR/USD Forex signal for April 20, 2015 here.
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Gold started the week drifting lower, testing the daily Kijun-sen (twenty six-day moving average, green line) at one point, but recovered some of its losses as the dollar lost strength after weak economic data damped prospects of a U.S. interest rate increase as early as June.
The EUR/USD pair initially fell during the day on Friday, but as you can see bounced enough to go higher. Ultimately, we did find the 1.08 level to be rather resistive, so it’s difficult to imagine that this market is going to have a relatively easy time going higher.
The AUD/USD pair initially tried to rally during the course of the session on Friday, but as you can see pulled back from the 0.78 level. That being the case, we ended up forming a perfect shooting star.
The GBP/USD pair rocketed higher during the course of the day on Friday, breaking above the 1.50 level. However, the area above the 1.50 level offered so much resistance that the market turned back around to form a perfect shooting star.
The AUD/CHF pair initially broke higher during the session on Friday, but then turned back around to form a shooting star. This is the second shooting star in a row, and it appears that the market is ready to start falling.
Looking at the USD/CHF pair, you can see that we fell significantly during the session on Friday. Importantly though, we found the 0.95 level to be supportive enough to keep the market supported and buyers stepping in.
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Get the weekly Forex forecast for the week of April 20, 2015 here.
Get the Forex forecast for some of the major currency pairs for the week of April 20, 2015 here.
Gold prices initially rose during the course of the day on Thursday, but the market found resistance around the $1209 level and retreated to support at $1197.
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The GBP/USD pair went much higher during the course of the day on Thursday, testing the crucial 1.50 level. Because of this, looks like the market is going to test the will of the buyers soon, as this area is a massive barrier.
Get the AUD/USD Forex signal for April 16, 2015 here.