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/CHF pair is one that has been rather consistent lately, as we continue to grind slowly downwards. Recently, we have seen an attempt to break above the 0.9500 level, but we failed on Tuesday and formed a shooting star.
Yesterday the AUD/CHF climbed to a 7 month high, peaking at 0.9970 before falling to close at 0.9936, 14 pips under the monthly resistance level that restricted a further rise.
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The XAU/USD pair had a bearish day after the last minute deal to avoid a major crisis in Cyprus dulled the precious metal’s safe-haven appeal. The pair traded as low as 1589.87 before recovering to 1607.
The EUR/USD pair sold off drastically on Monday as details of the Cypriot bank bailout became public. Originally, many of the traders in Asia trying to push the Euro higher, as the markets finally got some type of solution.
The EUR/JPY pair sold off drastically during the session on Monday, as the Euro was punished in general. The In gained against most currencies, but saw a bit of a bounce towards the end of the session.
The USD/CAD pair fell during the session on Monday, as word got out about the details in the Cypriot bank bailout package. The fact that so many people were going to have to take a hit in order to bailout the banks rattled the markets, as the "red line" of forcing senior bondholders to take massive haircuts has now been crossed.
The WTI Crude market had a strong showing during the Monday session, and had at one point attempted to take on the $96.00 level. That area is the beginning of a significant cluster, which of course I think will cause a bit of resistance.
Yesterday Gold, like many other pairs started out with bearish intentions but finished off with a more bullish attitude. Gold fell to a daily low of 1589.30 prior to Fed Chairman Bernanke's speech in the US and rose dramatically immediately after to form a Daily Pin Bar
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After it’s meeting early last week, the Eurogroup came up with a rescue fund for Cyprus, approved by the EU/IMF. Part of their requirements for the loan deal is for levies to be slammed on all Cypriot bank accounts. Check out this weekly analysis for the EUR/USD pair here.
Some of the major pairs had positive weeks last week, others did not fare well. Check out the weekly Forex forecast here and see what it can mean for your upcoming trades here.
Start your trading week with a Forex signal for the EUR/NZD pair here.
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Although the XAU/USD pair settled lower on the last trading day of the week, the weekly candle was still positive. Gold prices rose %0.6 over the course of the week as the crisis in Cyprus increased desire for the relative safety of gold.
The EUR/USD pair rose during the session on Friday, but stopped at the 1.30 level yet again. This level has acted as significant resistance lately, and this is accentuated by the gap that had formed at the open of the week.