Get the Forex forecast learning about quant vs chart reading for the week of February 23, 2015 here.
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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Get the forecast for some of the major Forex currency pairs for the week of February 23, 2015 here.
Gold prices declined $6.46 an ounce on Thursday as demand for the greenback increased after the weekly unemployment claims data came in better than expected.
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The EUR/USD pair broke higher during the beginning of the session on Thursday, but as you can see fell in order to test the 1.1350 region.
The USD/JPY pair rose during the course of the session on Thursday, as we continue to grind around the 119 level.
The USD/CAD pair tried to rally during the course of the session on Thursday, but struggled once we got above the 1.25 handle.
The GBP/USD pair tried to rally during the session on Thursday again, but struggled just below the 1.55 handle in order to form a relatively negative candle.
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Get the USD/JPY Forex signal for February 19, 2015 here.
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Get the EUR/USD Forex signal for February 19, 2015 here.
Get the GBP/USD Forex signal for February 19, 2015 here.
Looking at the EUR/CHF pair, we did break out during the session on Wednesday, and cleared the 1.07 handle.
The USD/CAD pair bounced off of the 1.24 level during the session on Wednesday, continuing the consolidation area that we have been in for some time, and as a result I would fully anticipate that the market should go to the 1.25 level, and then possibly above there given enough time.
The USD/JPY pair went back and forth during the course of the session on Wednesday, as we continue to hang about the 118.50 level.
Gold prices rose 0.32% on Wednesday as the dollar weakened economic data from the U.S. failed to beat market expectations and minutes from the Federal Open Market Committee’s January 27-28 meeting showed U.S. central bank official intend to keep interest rates extremely low for longer than previously thought.