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 March 16, 2015 here.
Get the GBP/USD Forex signal for March 16, 2015 here.
Get the EUR/USD Forex signal for March 16, 2015 here.
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Gold ended the week down by 1% at $1157.66 per ounce as concerns grew over the prospects of rising U.S. interest rates pushed the dollar to multiyear highs and investors’ appetite for the precious metal as an alternative investment.
The EUR/USD pair fell during the session on Friday again, testing the 1.05 level. At one point during the day, we actually broke below that level, which of course for me is a very negative sign.
The NZD/USD pair fell during the session on Friday, as the US dollar strengthened against many of its counterparts.
The GBP/USD pair broke down below the 1.48 level on Friday, which was the bottom of the support zone that I had been talking about recently.
The USD/JPY pair fell slightly during the Friday session, but quite frankly it seems like we are stuck in the general vicinity of the 121 handle.
Get the Forex forecast for some of the major currency pairs for the week of March 16, 2015 here.
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Get the Forex forecast learning about quant vs chart reading for the week of March 15, 2015 here.
Gold prices ended Thursday's session nearly unchanged after a volatile day that saw prices swing between gains and losses as the bulls and bears struggle for near-term control.
The EUR/USD pair bounced significantly during the session on Thursday, as the 1.05 level of course offered quite a bit of support.
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Sign up to get the latest market updates and free signals directly to your inbox.Looking at the USD/JPY pair, you can see that we initially fell during the day on Thursday. However, we found enough support below the 121 level to turn things back around and form a nice-looking hammer.
The USD/CHF pair fell during the session on Thursday, testing the parity level for support. We did in fact find it there, which of course is what you would anticipate based upon basic technical analysis.
The NZD/USD pair broke out during the session on Thursday, but the 0.74 level offered a bit too much resistance and we pulled back in order to show that there are in fact quite a few sellers above.