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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BTC/USD continued its downward spiral and is currently seen taking support near the $300 level. The selling pressure on the digital currency pair has pushed it below the important support zone at $340 on the back of strong volumes, which is a bearish indicator.
We have been going back and forth for the last nine days roughly between the 1235 and 1200 levels as the market simply had no real catalyst to push prices in either direction.
After witnessing some semblance of a pullback in Tuesdays’ session, BTC/USD gave up most of its gains yesterday on the back of relentless selling and traders taking profits.
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Check out the USD/JPY Forex signal for October 2, 2014 here.
Check out the GBP/USD Forex signal for October 2, 2014 here.
Check out the EUR/USD Forex signal for October 2, 2014 here.
The XAU/USD (Gold vs. the American dollar) settled slightly higher on Wednesday, marking the first rise in three trading sessions, as heightened risk aversion drove up buying of safe-haven gold and the yen.
The WTI Crude Oil market initially rallied during the session on Wednesday, testing the $93.00 level. However, we found the marketplace to be a bit resistive, and as a result the market fell back down in order to form a shooting star.
The EUR/USD pair went back and forth during the course of the day on Wednesday, testing the 1.26 level, but not making any significant movement below or above it.
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Gold weakened against the American dollar for a third straight session as weakening demand continued to lure investors away from the market.
BTC/USD showed some strength in yesterday’s trading session bouncing back from the lows. The digital currency was unable to sustain at higher levels, which is a cause of concern.
Check out the USD/JPY Forex signal for October 1, 2014 here.
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Check out the EUR/USD Forex signal for October 1, 2014 here.
The WTI Crude Oil markets fell hard during the course of the session on Tuesday, slamming into the $91.00 level. With that being the case, the market looks as if it could be continue to fall a little bit here, but there is so much support at the $90.00 level that it could be difficult to continue going lower.