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 initially fell during the day on Wednesday, but found enough buyers just above the 1.52 level to turn things back around and form a hammer.
The CAC 40 Index fell slightly during the session on Wednesday, dropping below the €5000 level. This of course is a large, round, psychologically significant number, and as a result it will attract quite a bit of trading action.
Check out the AUD/USD Forex signal for June 3, 2015 here.
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Looking at the EUR/USD pair, it is easy to tell that we had a very bullish session on Tuesday, and a significant one at that. After all, we closed towards the very top of the range, as we pierced several areas of resistance and aimed for the 1.12 level during the day.
The EUR/CHF pair took off to the upside during the Tuesday session, breaking the top of several candles from the past week or so. By doing so, there’s not much to doubt about the validity of the Euro being stronger, and I feel that the market will more than likely at the very least try to reach the top of the recent consolidation.
The AUD/USD pair broke out to the upside during the Tuesday session, breaking well above the top of the hammer that had formed for Monday.
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The NZD/USD pair broke higher during the day on Tuesday, after initially trying to fall. The fact that we formed a shooting star on Monday suggested that perhaps we were going to try to break down below the support that is just underneath that candle.
The USD/JPY pair has been very bullish lately, but as you can see over the last couple of sessions, both Monday and Tuesday, the 125 level has been in the forefront of the thought process as far as traders are concerned.
Gold prices ended Tuesday's session up 0.3% at $1192.71 per ounce as downbeat U.S. economic data pressured the dollar. The Commerce Department's report showed that new orders for factory goods slumped 0.4% in April.
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