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.
The EUR/GBP pair did another neutral candle for the session on Thursday, which just leads me to believe that this area around the 0.84 handle will continue to be very solid support. Because of this, I believe that the market is entering an "accumulation phase", which simply means that the "smart money" is starting to buy down here at this low level.
According to the AUD/USD and USD/CAD analysis trader profited on a binary options platform. See how here.
During July, there were ten daily lows and four weekly lows that printed between 1.0292 and 1.0245. This is a lot of support packed within a fairly tight range. Get the full analysis here.
Gold has had some wild Macro swings lately, between the Fed “Taper” and Geo-Political issues with Syria. Concentrating on the Technicals, the Precious metal is an important decision phase. Get the full analysis here.
Looking to the future, we can see from the daily chart that Tuesday was a bullish inside bar, and the price broke out from that bar's high of 1.3275 to the upside yesterday, confirming the weakly bullish bias. Get the analysis here.
The gold market appears to be stable with the bulls and bears gaining and losing ground almost equally during the Asian session. On Wednesday the XAU/USD pair had a slightly bullish session as the American dollar weakened across the board.
The WTI crude Oil markets fell during most of the session on Wednesday, but as you can see found enough support at the $106 level in order to form a nice looking hammer.
The EUR/USD pair fell initially during the session on Wednesday, but as you can see bounced high enough to find the 1.33 handle. With that being the case, I think that we will continue up to the top of the recent consolidation area which find resistance at the 1.34 handle, but I have a hard time believing that we are to breakout above that without some type of headline crossing the wires.
The AUD/USD pair broke out above the 0.93 handle during the session on Wednesday, which of course is what I've been waiting for. Now that we have broken above that level, I can say that the consolidation has now ended, and it's starting to look more and more like it could have been accumulation.
The USD/CAD pair fell hard during the session on Wednesday, but still remains above the 1.03 level that I had been watching for a potential sell order. However, I do believe that we are about to break down below that level, and as a result we will more than likely see this pair drift down to the 1.02 handle.
Looking at the previous three weeks, the action taken as a whole looks very bullish. Last week saw a strongly bullish breakout from the summer’s triangle with a bullish reversal bar that closed very near its high.
According to the analysis of the EUR/USD and AUD/USD pairs, trader profited on a binary options platform. See how here.
The WTI Crude Oil markets fell hard during the session on Monday, as we continue to see bearish action in this market. All things being considered, it makes sense that we have fallen at this point as the markets have been a little bit ahead of themselves over the course of the last several weeks.
The USD/CAD pair fell during the session on Monday, as you can see breaking the low of the 1.04 handle. This area of course has been supportive in the past, so what I found interesting is that we not only managed to break down below it, but close towards the bottom of the candle.
The action has been very bullish this week, following Friday's bullish reversal bar at 1. We have exceeded the previous swing high at 1.5718 which may now be acting as support.
