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 EUR/USD pair had a productive and profitable day as the Euro gained against the Dollar after the Federal Reserve announced that it was going to expand its monetary policies far into the future.
The GBP/JPY pair had an outstanding session on Wednesday as the market skyrocketed towards the 135 handle. However, we could not break that level, and as a result we did selloff a little bit towards the end of the day.
The USD/CAD pair fell during the session as the Federal Reserve announced that it was extending quantitative easing out into the future. The bond buyback program was sent to and at the end of this month, and the fact that the Federal Reserve is willing to extend that should continue to keep interest rates rather low.
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XAU/USD is consolidating in a relatively small range during the Asian session today. Yesterday XAU/USD found support at the 1705 level as the American dollar remained under the pressure on expectations the Federal Reserve will take further monetary easing steps.
The EUR/USD pair had a smashing day during the session on Tuesday as the market closed above the 1.30 level to put an exclamation point on the bullishness. Although I don't personally like the Euro in general, I do believe that this move is indicative of what's going on overall in the marketplace.
The GBP/CHF is one of my favorite pairs. This is because it tends to be very volatile, but very technically driven at the same time. Being a technical trader, this obviously appeals to me, and my preferred method of trading.
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The AUD/USD pair had an extraordinarily bullish session on Tuesday as the 1.05 level has been overcome by the buyers. The market looks extremely bullish at this point in time, and as a result I firmly believe that we will test the 1.06 handle in the relatively near term.
The USD/JPY seems to have 83.00 firmly in its crosshairs for the 4th week in a row. In the past 3 weeks, the pair has reached highs within 10 pips of 0.8283 each week, as well as staying above 81.60 to form a range of 140 pips +/- a few.
Check out this EUR/USD signal and keep an eye out for this pair, for there may be further trend corrections soon.
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XAU/USD (gold vs. the greenback) rose three days in a row. The pair printed a bullish candle yesterday on better-than-expected data from China and worries over the U.S. budget battle.
The EUR/USD pair initially fell during the session on Monday, but as you can see it appears that the level just below the 1.29 handle looks to be very supportive at the moment. In fact, over the last couple of weeks we have formed what looks to be a double bottom.