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 weekly Forex forecast for some of the major pairs here for the week of February 24, 2014.
The WTI Crude Oil markets initially fell during the session on Thursday, but found enough support above the $102 level in order to bounce and form a hammer.
The EUR/USD pair went back and forth during the session on Thursday, and a fairly volatile session. At the end of the day, we closed just slightly negative, but what I find most interesting is the fact that we did end up showing the 1.37 level as being supportive.
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The GBP/USD pair fell during the session on Thursday, but only after banging around for some time. The session was essentially flat, the selloff being very minor.
According to the analyses of the USD/JPY and GBP/USD, trader profited on a binary options trading platform. See how here
Gold weakened against the American dollar for a second session on Wednesday after minutes from the Federal Reserve's January 28-29 policy meeting showed the central bank intends to continue the steady reduction in the pace of its asset purchases unless the economy deviates substantially from its expected path.
The WTI Crude Oil market continues to gain ground as the Wednesday session was positive as well. We closed just below the $103 level, but it’s now obvious that the $102 level is going to bring in more buyers.
The EUR/USD pair fell slightly during the session on Wednesday, showing that there was indeed resistance above as I had suspected in yesterday’s article. However, I can’t say that this pair is one that I want to sell at the moment either, as the 1.37 level could very well be supportive now.
The GBP/USD pair went back and forth on Wednesday, essentially settling nothing by the end of the session. With this, it appears that the sellers might be running out of room and steam to continue to push this market lower.
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The USD/JPY pair spent a lot of the session on Wednesday falling, but also found enough support at the 102 level in order to form a hammer for the day.
The CHF/JPY pair fell during the majority of the session on Wednesday, but bounced enough to form a hammer as the 115 level continues to offer a reactionary level to the market.
Check out the GBP/USD signal here.
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According to the analyses of the EUR/USD and EUR/GBP, trader profited on a binary options trading platform. See how here
Gold gave up some of its recent gains against the American dollar during yesterday's session as investors took a cautious stance and took some profit off the table prior to the release of the Federal Open Market Committee meeting minutes.