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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Gold prices had an excellent session on Wednesday, as gains moved towards the resistance level at $1321 an ounce, the highest level in 3 months.
There is no doubt that the minutes of the last Federal Reserve meeting helped the USD to achieve gains against other majors
The GBP/JPY didn’t enjoy the gains it made reaching towards resistance level at 152.82, the highest level for this pair in 3 months, and went quickly down towards 151.93
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The EUR/JPY is established around 135.60 level for the 4th day in a row, which created a cluster threatens to have a corrective moves of profit taking at any time
The GBP lost all gains made during the last session, as after the GBP/USD made a strong bullish move during Wednesday session to the resistance level at 1.3612
The EUR/USD gains stopped at the resistance level 1.2080, the highest level in 3 months, before it went back to 1.2000 at the time of writing.
Gold prices fell $4.48 an ounce on Wednesday, ending an eight-day streak of gains, as a rebound in the dollar and the market’s inability to penetrate the $1321
The EUR/USD pair fell during most of the trading session on Wednesday, falling down to the 1.20 level, which was the scene of the gap from Tuesday.
Bitcoin initially rallied during the trading session on Wednesday, but ran into a significant amount of resistance at the $15,000 region.
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The WTI Crude Oil market rallied significantly during the trading session on Wednesday, slicing through the $61.50 level.
The USD/JPY pair went back and forth during the trading session on Wednesday, as we continue to see support just below at the 112 handle.
The S&P 500 had rallied significantly during the trading session on Wednesday, slicing through the 2700 level.
Despite recent gains of the GBP/JPY, reaching towards 152.82, the highest in one month, the bullish bounce still needs stimulates to confirm the strength of the bullish trend
The USD/JPY will depend today on the details of the latest meeting for the Fed Reserve to stop the losses which took the pair to the support level at 112.05.
The Gold prices recorded gains reached to $1321 an ounce during the morning trading on Wednesday, before it bounced quickly to $1312 an ounce at the time of writing