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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According to the analysis of the GBP/USD and EUR/USD trader profited on a binary options platform.
The XAU/USD pair hit a wall at 1685 and closed the day slightly lower than opening. This zone at 1685 is a tough nut to crack and has provided support and resistance since December 2012.
The EUR/USD pair initially fell during the session on Tuesday, as it broke down through the 1.35 level. This area represented a significant support zone as far as I could tell, so I was glad to see that the market popped back over that level and close significantly higher.
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The GBP/USD pair fell rather sharply on Tuesday, after initially trying to rally and get above the 1.58 level. What I found most interesting is that for the first time on a rally, we could not clear the handle.
The NZD/USD pair had a back and forth session during Tuesday, but considering where we are that was actually a fairly strong showing. After all, we are just below the 0.85 handle, an area that has kept this pair down for some time.
Gold has been descending into a tight triangle formation on the Daily Charts, with yesterday's price action testing the top of the channel, the 62EMA and the Weekly R1 that have all come together at 1683.50 +/-, to form solid resistance for the pair.
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Political uncertainty was the major focus in the markets yesterday. The XAU/USD pair rose on Monday as political turmoil in Europe and weaker than expected economic data out of the United States boosted the precious metal's safe-haven appeal.
The EUR/USD pair fell rather dramatically during the session on Monday, as we retested the 1.35 level for support. While I expected this move, I didn't expect it in a matter of few short hours and this of course has caught many of my fellow traders off guard.
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The GBP/USD pair had a positive session on Monday, but did not managed to break above the 1.58 level leaving me to believe that we are simply consolidating, and that the bullishness that we saw for the session isn't necessarily indicative of the some type of turnaround.
The AUD/USD pair had a relatively quiet session on Monday, as we initially fell towards the 1.04 handle. However, by the end of the day we bounced enough in order to form a candle the looks somewhat like a hammer, which of course is interesting after we have had two other candles in a row that looked very much like hammers.
The CHF/JPY cleared the 1998 high last week at 100.85 with little effort and continued on to the 2007 highs at 101.84 before stalling at 102.62 and forming an 'Inside Bar' on the daily chart yesterday.
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According to the analysis of the USD/JPY and EUR/USD trader profited on a binary options platform.
The major Forex pairs had an interesting week last week. Will this affect your trading for the new week ahead? Find out here with the weekly Forex forecast.