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 took off during the session on Monday again, as this market just simply cannot go higher now for the buyers.
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The price of gold bullion tumbled another $29 per ounce on the last trading day of the week and the month as investors liquidated bullish bets after the American dollar got a boost from the Bank of Japan's unexpected decision to expand its already massive monetary stimulus program.
The EUR/USD pair fell during the session on Friday, as we continue to see weakness in the Euro. The US dollar is by far the most favored currency in the world right now, so it’s not a big surprise this market fell.
The GBP/CHF pair broke out to the upside during the session on Friday, clearing the top of the recent consolidation area that we have been stuck in.
The NZD/CAD pair initially tried to rally during the course of the day on Friday, and as you can see failed. On the chart, you can see where I had the uptrend line from a couple of days ago marked, and where the market simply could not stay above that line.
The USD/JPY pair broke out during the session on Friday, smashing through the 110 barrier. This is an area that has been massively resistive in the past, so it makes a lot of sense that this would have attracted a lot of buying once we saw the bullish move.
The USD/CAD pair broke higher during the course of the session on Friday, slicing through the 1.13 level during the day.
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Check out the GBP/USD Forex signal for November 3, 2014 here.
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Gold prices continued to sink yesterday, extending losses from Wednesday's session, and touched the lowest level in nearly 4 weeks on technical selling and upbeat U.S. economic data.
The EUR/USD pair fell during the beginning of the session on Thursday, and as you can see ended up bouncing hard enough off of the 1.2550 level to form a nice-looking hammer.