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 EUR/USD pair had a fairly negative session on Monday as traders came back from the weekend. It seems that we continue to struggle out the 1.14 level, which of course is a not a huge surprise to me, because we are testing the last vestiges of true resistance.
Looking at the silver markets in the spot index, you can see that we have broken above the $17.50 level during the session on Monday, and out of the previous large consolidation area.
The WTI Crude Oil markets did very little during the session on Monday as traders came back from the weekend. It appears that the market is essentially settling at the $60 level, and as a result there isn’t much to do.
Gold prices initially advanced on Monday but encountered resistance below the 1235 level as a rebound in the dollar prompted investors to take profits after the precious metal's sharp rally the week before.
Get the AUD/USD Forex signal for May 18, 2015 here.
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The EUR/USD pair initially fell during the session on Friday, but found enough support near the 1.13 level to turn things back around and form a hammer shaped candle for Friday.
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Sign up to get the latest market updates and free signals directly to your inbox.The WTI Crude Oil market initially fell during the course of the day on Friday, but found enough support towards the end of the session to turn things back around and form a rather positive looking hammer.
The EUR/CHF pair broke higher during the course of the session on Friday, testing the 1.05 handle. This is an area that has been massively resistive and supportive in the past, so the fact that we pullback should not be much of a surprise.
Gold prices settled at $1224.25 per ounce, rising 2.9% over the course of the week, as investors pushed back bets on when the Federal Reserve will increase interest rates following a new batch of disappointing U.S. data.