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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Although gold prices declined three days in a row, we are still trapped in a small trading range bounded by the Ichimoku clouds on the daily and 4-hour charts.
The WTI Crude Oil markets fell during the session on Tuesday, slicing through the $104 level, an area that we had suggested was significant support.
The EUR/USD pair had a back and forth session on Tuesday, essentially going nowhere by the time the markets closed.
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The USD/JPY pair did almost nothing during the session on Tuesday, sitting right at the 98 handle.
The AUD/USD pair fell drastically during the session on Tuesday, aiming towards the 0.90 handle.
The Canadian Dollar, aka the Loonie as it is called, has been recently getting a little stronger against its southern cousin the American Greenback.
Short GBP/USD between 1.5328 and 1.5353 if the price reaches this level between 7am and 4pm GMT today.
Gold is going to be the epicenter of a lot of trading during the month of August, simply because there are a lot of different things going on at one time.
For the last week the trading has been between the 75 floor and the 100 ceiling which remained untested until now.
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Building Approvals was the catalyst for further AUD weakness with the numbers falling from the previous -4.3 to the current -6.9...this is significant because they were predicting a positive 2.2 and instead saw a further decline in Building Approvals and the AUD fell dramatically as a result.
Gold prices (XAU/USD) settled slightly lower yesterday as the mild disappointment in U.S. housing data failed to have a lasting impact on the Greenback.
The WTI Crude Oil markets failed to impress during the session on Monday, but did manage to hover right around the $104 level, an area that I suspected would be supportive.
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Sign up to get the latest market updates and free signals directly to your inbox.Going forward, it will be interesting to see what happens over the next couple of sessions, because quite frankly I feel this is where a serious decision will be made.
The USD/JPY pair did very little during the session on Monday, essentially confirming that the area is going to attract a certain amount of buyers.
The EUR/JPY pair fell during the session on Monday, testing the 130 support level yet again.