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 US dollar initially tried to rally against the South African Rand but gave back the gains as we are now definitively below the 200 day EMA.
The US dollar has fallen a bit during the trading session initially on Friday only to turn around of form a bit of a hammer.
The WTI Crude Oil market fell hard later in the day, filling the gap that was marked on the daily chart and finding buyers near the 50 day EMA.
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Gold markets tried to rally during the day on Friday but ended up forming a major shooting star.
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The Euro went back and forth during the trading session on Thursday as we continue to bounce around the 200 day EMA.
The S&P 500 rallied a bit during the trading session on Thursday, as we continue to bounce back and forth.
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The US dollar did try to rally during the trading session on Thursday but found enough resistance at the ¥108 level to turn things around and show signs of negativity again.
If you been watching my videos here at Daily Forex, you know I’ve been talking about how this market has gone far too parabolic, and that it would be relatively soon that we would see a loss of more than 10% in a single day.
It’s difficult to imagine that the crude oil markets will do much during the day on Friday, because we are heading into the G 20 summit.
Gold markets pulled back a bit during the day on Thursday, testing the crucial $1400 level for support.
Before the announcement of important US GDP figures, the EUR / USD pair is stabilizing around the support level of 1.1348 after the last bounce to reach the 1.1411 resistance level, the highest in three months.
Mark Carney was frank and confirmed what he had said earlier during his testimony on the inflation report in Britain,