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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Check out the GBP/USD Forex signal for September 11, 2014 here.
Check out the EUR/USD Forex signal for September 11, 2014
Gold lost ground against the American dollar for a third consecutive session on Wednesday, with diminishing concerns surrounding Russia and Ukraine contributing to another rally in U.S. equities, ahead of the much anticipated meeting of the Federal Open Market Committee next week.
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The WTI Crude Oil markets fell hard during the course of the day on Wednesday, as the market finally broke down below the $92.00 handle. Because of this, I believe that we are starting to see another leg lower in this market, and that we will eventually target the $90.00 handle.
The EUR/USD pair initially fell during the course of the day on Wednesday, but as you can see found the 1.29 level supportive yet again. Because of this, we did in fact form a hammer but we have a shooting star from the few sessions before to worry about if we decided to go long.
The USD/JPY pair surged higher during the session on Wednesday, breaking the top of the shooting star from Tuesday. Normally, I consider this a very strong buy signal, but I am a bit concerned about going long at this point.
BTC/USD is trading in a narrow range with positive bias after opening at $476.58 it went down all the way till $459.84 before rebounding to currently trade at $476.58 .
Get the USD/JPY Forex signal for September 10, 2014 here.
Check out the GBP/USD Forex signal for September 10, 2014 here.
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Get the EUR/USD Forex signal for September 10, 2014 here.
Although gold prices ended yesterday's session lower, the market found support just above the $1247 level. As a result, the pair erased some of the initial losses and created a long shadow to the down side.
The EUR/USD pair fell initially during the session on Tuesday, but I believe that this market has simply fallen too far and into short of an amount of time. Because of this, the market rising formed a relatively supportive candle, but this should simply be a situation where you can sell rallies.
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The CAD/JPY pair initially fell during the course of the day on Tuesday, but as you can see found enough support below to turn things back around and form a nice-looking hammer.
The USD/JPY pair initially surged higher during the session on Tuesday, but as you can see struggled once we got above the 106.25 region. With that being the case, we ended up forming a little bit of a shooting star, and that of course suggests that the market is going to see some weakness.