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 broke down during the Monday session, breaking the bottom of the shooting star that informed on Friday. This is a very negative sign, and quite frankly I really liked where the shooting star formed, the 1.50 level.
The USD/INR pair broke higher during the session on Monday as we crashed into the 63 level. This was the most recent high, and an area of significant support previously.
The USD/SEK rose during the session on Monday, as traders simply started to buy the US dollar in general. The greenback continues to be one of the favored currencies around the world, and the trend line that has been keeping this pair higher continues to support the US dollar.
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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.
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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.