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 EUR/USD Forex signal for October 13, 2014 here.
The EUR/GBP pair tried to rally during the course of the session on Friday, but as you can see it continues to respect the 0.7875 level as resistance. Because of this resistance, the market turned back around and fell all the way down to the 0.7850 level.
Looking at the NZD/USD pair, you can see that we did in fact drop a bit during the session on Friday, but it appears that we are forming a possible bearish flag.
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The USD/CAD pair went back and forth during the course of the session on Friday, testing the 1.12 level for resistance. It did in fact hold, but I feel it’s only a matter of time before we do break out to the upside.
The USD/JPY pair has had a fairly rough week, and Friday continued the softening of the market. We tried to rally, but as you can see failed and ended up forming a shooting star.
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Get the weekly Forex forecast for some of the major currency pairs for October 12, 2014 here.
The XAU/USD pair rose for a fourth day this week as Federal Reserve's concerns over a global economic slowdown stoked speculations that interest rates will remain low until the fourth quarter of 2015.
During the session on Thursday, the market tried to break out and smash through the 1.28 resistance barrier, an area that I have pointed out has being significant. Because of this, the sellers step in and push the market back down.
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The USD/CAD pair initially tried to fall a little bit during the session on Thursday, but found enough support at the 1.11 level to turn things back around and have a positive day.
The EUR/USD pair rose during the course of the day on Wednesday, breaking above the 1.27 level
The EUR/GBP pair broke higher during the course of the day on Wednesday, slicing through the 0.7875 handle.
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The AUD/USD pair initially fell during the course of the day on Wednesday, but ended up turning around and slicing through the 0.88 level, blowing through a significant amount of resistance.
The NZD/USD pair rose during the course of the day on Wednesday, breaking the top of the shooting star from both Monday and Tuesday.