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 logged a second straight weekly loss on Friday as the dollar gained strength after the Federal Reserve increased interest rates and announced it would begin shrinking its holdings of bonds and securities this year.
Our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for June 19, 2017.
Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of June 19, 2017.
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The EUR/USD pair broke down significantly during the day on Thursday, breaking below the bottom of a shooting star from the Wednesday session. The British pound has been a mess as of late, and the session on Thursday was no different.
The WTI Crude Oil market fell again during the day on Thursday, reaching towards the $44 level. The natural gas markets broke higher during the day on Thursday, slicing through the $3.00 level.
The US dollar rose against the Japanese yen during the day on Thursday, breaking above the 110 level again. The Australian dollar initially tried to take off to the upside during the day on Thursday, as we continue to see volatility, but the market turned around to form a shooting star.
The NASDAQ 100 fell again during the day on Thursday but also on Thursday found enough support underneath the 5700 level to turn things around to form a nice-looking hammer on the daily chart.
Gold prices fell $6.75 an ounce yesterday, extending losses from Wednesday’s session, and touched the lowest level in nearly four weeks on technical selling and as the dollar continued to appreciate.
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The EUR/USD pair initially rallied during the day on Wednesday but found enough resistance of the 1.13 level to turn around and form a massive shooting star. The British pound initially tried to rally and even broke above the 1.28 handle at one point during the day.
The USD/JPY pair initially fell during the day on Wednesday, but found enough pressure underneath to turn around and form a bit of a hammer. The Australian dollar broke out to the upside, slicing through the 0.7550 level.
The S&P 500 went back and forth during the day on Wednesday, as the markets try to position themselves due to the Federal Reserve announcement. I find the NASDAQ 100 interesting at the moment, because we continue to find the support at the 5700 level.