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 Forex forecast for major pairs for the week of December 16, 2019 here.
Bitcoin is amid an insignificant bounce, although a further breakdown is expected to follow.
Central banks in developed economies are either in a holding pattern or cut interest rates from record-low levels.
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Following yesterday’s Swiss National Bank interest rate decision, were interest rates remained unchanged at -0.75%, the Swiss Franc weakened against the Australian Dollar.
As global markets await US President Trump to approve what many consider an insignificant phase-one trade deal, the NZD/USD spiked into its resistance zone.
The US dollar has shot higher during the trading session on Thursday, slamming into the 61.8% Fibonacci retracement level.
The S&P 500 is likely to see a lot of volatility on Friday, because quite frankly we are waiting to see whether or not the tariffs are levied on the Chinese this Sunday. December 15 is the trade tariff deadline, and so far, nothing has changed.
The NASDAQ 100 initially pulled back a bit during the trading session on Thursday, dipping below the 8400 level.
The Euro has been all over the place during the trading session on Thursday, as we had in ECB interest rate decision and perhaps more importantly an ECB press conference.
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The British pound has been all over the place during the trading session on Thursday, as we await the final election results.
The Australian dollar has rallied significantly during the trading session on Thursday, reaching towards the 200 day EMA.
The West Texas Intermediate Crude Oil market will more than likely continue to test the $60 level, as we have seen the market do over the last several days.
The US dollar fell a bit initially to kick off the trading session on Thursday, as the Mexican peso continues to pick up a bit of steam due to the idea that Congress and the White House are come to terms with ratifying the USMCA agreement which is essentially NAFTA 2.0 as far as a trade deal is concerned.
Natural gas markets rally during the trading session on Thursday, filling the gap from the beginning of the week.
Gold markets initially tried to rally during the trading session on Thursday, but as you can see have gotten slapped right back down.