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 GBP/USD pair broke to the upside during the session on Thursday, claiming well above the 1.70 level again, which of course has been significant support and resistance, and of course is also a large, round, psychologically significant number.
The EUR/JPY pair fell during the bulk of the session on Thursday, but the 138 level held true as far as support. That being the case, the market should continue to find buyers down in that general area, and I am not hesitating at all to start trading this pair to the upside as we are approach that level.
The EUR/NZD pair fell yet again during the session on Thursday, breaking down below the 1.55 support level. However, you can see that we bounce back above it and now the question then becomes whether or not we can continue lower.
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Bitcoin is currently trading near its previous support level of 580 which is just at around 2-3% below the resistance level of 595. Get the analysis for June 27, 2014 here.
After three consecutive days of gain, the XAU/USD pair closed yesterday’s session lower than opening. The pair initially fell to its lowest level in five days but weaker-than-expected consumer spending data helped gold to recover some of its losses quickly and close at $1316.37 an ounce.
The EUR/USD pair rose during the session on Wednesday, as the US GDP revision came out horribly. With that being the case, the market sold off the US dollar, and by extension the Euro of course got a boost in reaction.
The GBP/USD pair went back and forth during the course of the session on Wednesday, testing the 1.70 level as resistance, and as a result it appears that the market failing there shows that the resistance is in fact still viable.
The USD/JPY pair fell initially during the course of the session on Wednesday, but not enough support near the 101.50 level to bounce enough to form a hammer.
The silver markets went back and forth on Wednesday, as we continue to test the $21.00 level. This level has been resistant, as most recently seen on Tuesday in the form of a shooting star, and as a result it’s very likely that a break above this level could in fact bring in more buyers.
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Check out the GBP/USD Forex signal for June 26, 2014 here.
Get the EUR/USD Forex signal for June 26, 2014 here.
The WTI Crude Oil market initially gapped higher at the open on Wednesday, but spent the rest the day falling backwards, only to turn around at the $105.75 level and form a nice-looking hammer.
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Sign up to get the latest market updates and free signals directly to your inbox.The XAU/USD pair closed higher than opening as the American dollar lost some strength across the board after the data released by the Commerce Department showed that demand for durable goods slumped in May and the U.S. economy contracted more than previously expected in the first quarter.
Get the USD/JPY Forex Signal for June 25, 2014 here.
Get the GBP/USD Forex signal for June 25, 2014 here.