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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Silver markets didn’t do much during the session on Monday, as we continue to go nowhere. The market is currently stuck between the $17 and $17.50 levels.
Check out the AUD/USD weekly Forex signal for October 28, 2014 here.
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The EUR/USD pair continued to struggle during the session on Friday as the 1.27 level seems to be rather resistive. On top of that, the 1.28 level above is also a resistive area as well, and with that being the case selling this market is essentially the only thing I’m looking to do.
The USD/JPY pair continues to find buyers every time he drops, and the Friday session was of course not any different. Ultimately, the market should continue to be a “buy on the dips” type of proposition, and I do think that is going to be the way this market continues going much longer term and far into 2015.
The EUR/JPY pair is starting to show signs of life at the 137 handle, as we pressed up against pretty significant resistance.
The GBP/USD pair fell initially during the session on Friday, but found enough support near the 1.60 level to turn things back around and form a hammer candle.
The USD/MXN pair is one that many of you will not have traded in your careers. However, it is a very interesting longer-term pair as it has several different dynamics involved in it. Most people don’t understand this, but the Mexican peso tends to be thought of as an oil-based currency.
Check out the USD/JPY Forex signal for October 27, 2014 here.
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Get the EUR/USD Forex signal for October 27, 2014 here.
The XAU/USD pair declined 0.55% for the week and settled at $1230.38 an ounce on Friday as friendly risk environment and strength in the U.S. dollar dulled the precious metal's attractiveness.
End the month of October 2014 with the weekly Forex forecast for some of the major currency pairs here.
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Sign up to get the latest market updates and free signals directly to your inbox.The EUR/USD pair did very little during the session to define itself during the day on Thursday, as we simply went sideways.
The USD/JPY pair broke out above the 107.50 level during the session on Thursday, which of course is a very significant resistance barrier.
The GBP/AUD pair fell initially during the course of the day on Thursday, but for the second day in a row ended up bouncing enough to form a nice-looking hammer. The hammer is sitting at the 1.83 level, which of course is a supportive level.