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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Check out the GBP/USD Forex signal for August 26, 2014 here.
Get the EUR/USD Forex signal for August 26, 2014 here.
The XAU/USD pair had a relatively tight range yesterday as investors try to digest last week's downswing. Diminishing geopolitical concerns and speculations that the Federal Reserve is leaning toward raising interest rates caused investors’ confidence in gold to erode.
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The WTI Crude Oil markets gapped lower at the open on Monday, and then turned around to try to break to the upside. However, we found enough resistance at the $94.00 level in order to turn things back around and form a shooting star.
The EUR/USD pair gapped lower at the open on Monday, and then essentially did nothing. That being the case, it appears that the Euro is going to continue falling in general, and as a result I feel that the market can only be sold at this point.
The EUR/GBP pair gapped lower at the open on Monday, and tested the 0.7950 level. With that, I feel that this market should continue the downtrend that we have seen, as we have had a decent bounce so far over the last couple of weeks.
The USD/JPY pair gapped higher at the open on Monday, as the US dollar continues to be one of the more favored currencies out there. That being the case though, the market then spent the rest of the day falling backwards to find support.
The EUR/CAD pair initially fell during the course of the day on Monday, just as the Euro lost against almost all currencies. However, the Canadian dollar is a little bit of an outlier when it comes to currencies at the moment as it has been weaker than most.
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Get the USD/CAD weekly Forex signal for August 25, 2014 here.
Get the bitcoin forecast for August 25, 2014 here.
The XAU/USD (Gold vs. the American dollar) settled slightly higher on Friday, marking the first rise in six trading sessions, as resurfacing Ukraine jitters lead some investors to take profit off the table.
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The AUD/USD pair rose during the course of the day on Friday, but gave back about half of the gains. What is more important to me is the fact that we broke the top of the hammer from the Thursday session, and the top of the shooting star from the Wednesday session.
The USD/JPY pair had a pretty volatile session on Friday, as the market shot above 104, pullback, and then shot higher. We closed just below the 104 level at the end of the day, and as a result I believe that the market is trying to get above that handle.