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 NZD/USD pair went back and forth during the course of the day on Friday, treading water at the 0.74 handle. By doing so, it looks as if the market is ready to attempt the 0.75 handle again, which of course has been resistive.
The USD/CAD pair initially tried to rally during the course of the day on Friday, but fell back down and close below the 1.25 handle.
The EUR/CHF pair had a very quiet session on Friday, as we continue to press the top of the recent consolidation which is just above the 1.05 handle.
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The EUR/USD pair broke higher during the course of the session on Thursday, as we cleared the 1.13 support barrier. Having said that though, I’m still fairly negative on this market as I believe the 1.15 level above offers resistance.
The USD/CAD pair fell during the course of the session on Thursday, crashing through the 1.25 handle. However, you can see that the market did in fact bounce though, and that of course shows that there are buyers below.
The USD/JPY pair fell during the course of the session on Thursday, testing the 118.50 region. That area of course offered support as it is a region that is massively noisy, and was once consolidation.
The USD/SGD pair fell during the course of the session on Thursday, taking back all of the gains from Wednesday. The Singapore dollar is one of my favorite currencies to trade, simply because it is a good way to play Asian growth, or lack of it as it were.
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The GBP/USD pair broke higher during the course of the session on Thursday, breaking the top of the shooting star from the Wednesday session.
Gold rose slightly on Thursday, helped by a drop in the U.S. dollar after economic data on retail sales and jobless claims missed forecasts, but the market is poised for its third weekly loss.
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