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 EUR/CHF pair continue to fall during the month of August, but as you can see I have a massive horizontal line at the 1.20 level on this weekly chart. This is because 1.20 is the area that the Swiss National Bank defended so vigorously in the past.
The USD/JPY pair finally broke out to the upside and above the 103 level during the month of August. That being the case, I feel that this market will continue to try to build up bullish pressure, and eventually test the 105 level.
The EUR/CAD pair fell hard during the course of August, crashing through a longer-term trend line the goes back to late summer of 2013. Breaking that trend line tells me that the Euro will continue to fall, even as oil prices to know favors whatsoever for the Canadian dollar.
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The XAU/USD pair (Gold vs. the American Dollar) closed higher than opening for a third consecutive day as investors moved to the safety of gold after flaring Ukraine tensions ruined investors' appetite for riskier assets.
The EUR/USD pair tried to rally during the course of the day on Thursday, but as we have seen over the last several sessions, the sellers step been above the 1.32 handle.
The GBP/JPY pair fell during the bulk of the session on Thursday, but later in the day we saw the Japanese yen selloff in general, and as a result this pair rose right along with the USD/JPY pair.
The NZD/USD pair rose during the session on Thursday, and even broke above the 0.84 level at one point in time. However, you can see that we pulled back and ended up forming a perfect shooting star.
The AUD/NZD pair has done the same thing for the last three days: form hammers. This is after gapping higher at the open of the week, so I believe it’s only a matter of time before this pair breaks out.
The USD/JPY pair initially fell during the course of the day on Thursday, but as you can see the 103.50 level has offered support yet again. With that, we bounce significantly and formed a beautiful looking hammer.
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The WTI Crude Oil market did very little during the session on Wednesday as we continue to hover around the $93.50 level. With that, it’s very difficult to get overly excited about trading this market right now, as the markets are simply far too tight and choppy to be safe at this point.
The EUR/USD pair tried to rally during the course of the day on Wednesday, even as it touched the 1.3150 level. A lesser executive in the European Central Bank suggested during the day that further quantitative easing was very unlikely out of the ECB next week, and the Euro of course did get a little bit of a boost because of that.