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 WTI Crude Oil market initially fell on Thursday just as it did on Wednesday, but then turned around to find buyers. Natural gas markets rallied during the day on Thursday, reaching the 50-day exponential moving average.
The USD/JPY pair initially tried to rally on Thursday but ran into a bit of trouble just below the 115 handle. The Australian dollar tried to rally during the session on Thursday, but found the area above the 0.0 level a bit too resistive.
The S&P 500 initially fell during the session on Thursday as we continue to see volatility in the marketplace. A large position was placed in the futures market to the downside, and this started the algorithmic trading around the world.
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Gold prices ended Thursday’s session down $1.57, pressured by the dollar’s bounce on better-than-expected U.S. economic data.
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Get the AUD/USD Forex Signal for July 27, 2017 here.
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Get the USD/CAD Forex Signal for July 27, 2017 here.
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Get the GBP/USD Forex Signal for July 27, 2017 here.
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Gold prices rose $10.65 an ounce on Wednesday, hitting the highest level since July 15, as the dollar slipped after the Federal Open Market Committee kept interest rates unchanged.
Gold markets have been very choppy and volatile as of late, and of course the Wednesday session was always going to be interesting as the FOMC released an interest rate announcement and of course statement.
The Euro rallied during the day after initially falling on Wednesday, mainly in reaction to the FOMC statement the came out. The British pound fell a bit initially on Wednesday, testing the 1.30 level.
The US dollar fell significantly during the session on Wednesday as the Federal Reserve released a dovish statement. The Australian dollar initially fell during the day on Wednesday, but found enough bullish pressure after the FOMC statement a break above the 0.80 level.