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 USD/JPY pair rose during the course of the day on Wednesday, bouncing off of the 102.20 region. The 102 level below is supportive in the sense that it is considered to be “fair value” in this marketplace, being halfway between the support at 101, and the resistance at 103 for this massive consolidation area.
The US Dollar Index fell initially during the session on Wednesday, but the 81.30 level offers support yet again. Because of this, we ended up forming a hammer, which was preceded by a Tuesday shooting star.
Gold gained ground against the greenback for a second consecutive session on Wednesday as disappointing U.S. economic data and developments in the Middle East and Ukraine increased the metal’s safe-haven appeal.
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Get the USD/JPY Forex signal for August 14, 2014 here.
The AUD/CHF pair is probably one that you don’t pay very close attention to, but it is at your own risk. After all, the market looks at this as a proxy for risk.
Get the GBP/USD Forex signal for August 14, 2014 here.
Get the EUR/USD Forex Signal for August 14, 2014 here.
In the last 24 hours, Bitcoin prices has hit new volatility levels unseen for a while, recording a drop of more than 3% to test levels as low as $570, before recouping marginally.
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The XAU/USD pair closed Tuesday's session higher than opening after two consecutive days of losses. The pair tried to climb above the 1318 resistance level but the bears stepped in and increased pressure.
The WTI Crude Oil markets initially fell during the course of the day on Tuesday, but we have found support near the day $6.50 level again. This is an area that has been supportive lately, so I believe that the market should continue to meander around this general vicinity.
The EUR/USD pair fell during the majority of the session on Tuesday as you can see, finding support right around the 1.3330 level for or the third time in the last week.
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The NZD/USD pair fell initially during the session on Tuesday, testing the 0.84 level. This area has been supportive in the past, and it does not surprise me that we formed a hammer for the day showing more support as well.
The EUR/GBP pair fell during the session on Tuesday, continuing the negativity that we have seen for months now. However, recently we have seen a little bit of a pullback in the downtrend, and a test of the 0.80 resistance barrier.