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/CAD pair tried to go higher initially during the session on Friday, but found enough resistance at the 100 day exponential moving average to turn things back around and form a shooting star.
The USD/JPY pair initially tried to rally during the session on Friday, but after the jobs numbers came out as expected, the pair pulled back to form a bit of a shooting star.
The GBP/USD pair broke higher as well as lower during the session on Friday in reaction to the Nonfarm Payroll numbers out of America.
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The USD/CAD pair fell during the session on Friday, as the jobs number came out slightly better than anticipated in Canada. The US number was basically where we thought it would be, so it makes sense we get a little bit of Canadian strength during the day.
Gold prices ended Friday's session up 0.4%, or $4.30, to settle at $1188.38 an ounce as U.S. jobs data eased investors’ concerns about how soon the Federal Reserve would raise interest rates.
Get the Forex forecast using quant and chart reading for some of the major currency pairs for the week of May 11, 2015 here.
Check out the Forex forecast for the week of May 11, 2015 here.
Gold prices settled lower yesterday, extending losses from the previous session, as the greenback continued to recover on the back of better than expected jobless claims data.
The EUR/USD fell during the session on Thursday, as we get ready for the Nonfarm Payroll numbers out of the United States today.
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Get the USD/CAD Forex signal for May 7, 2015 here.
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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.