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 tried to go higher during the course of the day on Thursday, as the 109 level has offered far too much in the way of resistance, making this market slowdown a little bit.
The GBP/USD pair broke higher during the course of the day on Thursday, and even broke above the top of the shooting star from the Wednesday session. With that being the case, it appears that a lot of traders are trying to “front run” the Scottish Independence Vote.
The AUD/USD pair went back and forth during the course of the day on Thursday, as we have broken down below the 0.90 handle. However, there is a significant amount of noise only down to the 0.89 handle, so we haven’t truly broken free of the support that the market has been fighting with.
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Whilst BTC/USD continues to trade in a narrow range, Bitcoin exchange start-up CoinJar announced that it would be trying to bridge the gap between the digital currency and the traditional methods of making payments by introducing smart cards which would allow users to make the payment in Australian dollars backed by the digital currency.
Check out the Forex signal for September 18, 2014 here.
Check out the EUR/USD Forex signal for September 18, 2014 here.
Check out the GBP/USD Forex signal for September 18, 2014 here.
The XAU/USD pair (Gold vs. the American dollar) closed yesterday's session with a loss as the American dollar gained some strength across the board.
The WTI Crude Oil market fell slightly during the session on Wednesday, pulling back from the $95.00 level, an area where you would expect to see a significant amount of resistance.
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The EUR/USD pair fell hard during the session on Wednesday after initially trying to rally, after the Federal Reserve announced that they were continuing the cutting off of quantitative easing.
The USD/JPY pair shot much higher during the course of the day on Wednesday after the Federal Reserve announced its intention to cut back on quantitative easing even further, and now looks diametrically opposed to the Bank of Japan, and the continuing interest-rate differential should continue to widen.
The GBP/USD pair shot higher during the course of the day on Wednesday, breaking above the 1.63 handle. I believe that a lot of this would’ve been due to potential “front running” the Scottish Independence Vote.
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There has been speculation rising in the financial space that if Scotland does vote for its independence from the United Kingdom it might adopt for Bitcoin as its official currency.
Gold prices settled slightly higher yesterday, extending gains from Monday's session, as weakness in the American dollar lured some investors back to the market.