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 using fundamentals, sentiment, and technical positions analyses for major pairs for the week of August 26, 2019 here.
Start the new trading week of August 26, 2019 prepared with our Forex forecast for major currency pairs here!
Gold markets initially pulled back a bit during the New York trading session on Thursday but found enough buyers underneath near the $1500 level to turn the market around and form a bit of a hammer.
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The West Texas Intermediate crude market initially tried to rally during the New York trading session on Thursday, running into a significant amount of resistance.
The US dollar fell a bit during the early New York trading session before bouncing on Thursday and we continued to see a lot of back and forth against the Japanese yen.
The S&P 500 pulled back a bit during the trading session on Thursday but has also found quite a bit of support to turn things right back around to form a hammer.
Natural gas markets initially tried to rally during the trading session on Thursday to slam into the $2.20 level.
The NASDAQ 100 fell initially during trading on Thursday but has turned around to show resiliency again at the 50 day EMA. That being the case, it looks as if we are trying to break out above the resistance at the 7800 level.
The British pound broke out during the trading session on Thursday, smashing through the pink resistance area that I have marked on the chart.
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The Euro has gone back and forth over the last week, and Thursday was just more of the same.
Bitcoin markets initially fell during the New York trading session on Thursday but then found enough support at the uptrend line to turn around and form a significant hammer as the market continued to show signs of resiliency.
The Australian dollar fell a bit during the New York trading session on Thursday but it remains well within the trading range that we have been in for the past few weeks.
For four consecutive trading sessions, the USD/JPY is unable to cross the 106.70 resistance level as seen on the provided daily chart below.
Gold price was little affected by the release of the Fed Reserve Minutes’ contents for July meeting.
Investors were counting on the summit between German Chancellor Merkel and British Prime Minister Boris Johnson for a breakthrough on the Brexit issue, which has strained global financial markets and is one factor in the possibility of a global crisis.