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 XAU/USD pair continued to sink during yesterday's session and touched its lowest level since January 23 as the American dollar maintained its strength across the board on growing conviction that the U.S. Federal Reserve will begin altering its monetary policy sooner than previously thought.
The WTI Crude Oil markets initially fell during the course of the session on Thursday game, but as you can see below the $91.00 level we got quite a bit of buying pressure. In fact, we had enough buying pressure to turn things back around and form a nice-looking candle that is shaped basically like a hammer.
The EUR/USD pair did very little during the course of the day on Thursday, as we continue to meander just above the 1.29 handle. I believe that this market will continue to struggle overall, and as you can see on the chart I have put to resistance lines up on it.
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The silver markets as you can see fell hard during the course of the day on Thursday, breaking below the $18.70 level at one point during the day. The candle for the session is relatively bearish, although we did get a little bit of a bounce from below.
The USD/NOK pair is one that a lot of you will not normally trade, unfortunately pushed away by a larger than usual spreads. However, you have to keep in mind that the PIP value is much lower than what you are used to dealing with.
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BTC/USD opened at $477.87 and continued to gain till $492 before settling down to trade at $477.87. Get the full forecast for BTC/USD for September 11, 2014 here.
Check out the USD/JPY Forex signal for September 11, 2014
Check out the GBP/USD Forex signal for September 11, 2014 here.
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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.
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.
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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 .