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.
Most Recent
Gold prices rose for a second straight session and settled at $1228.17 an ounce on Friday as a series of economic data out of the world’s largest economy disappointed the market and weighed on the American dollar.
Our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for May 15, 2017
Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of May 15, 2017.
Top Forex Brokers
Begin the trading week prepared with the Forex forecast focusing on the major pairs you should watch out for during the week of May 15, 2017 here.
The EUR/USD pair went back and forth during the day on Thursday, testing the 1.09 level for resistance, and the gap below for support.
The S&P 500 fell initially during the day on Thursday, but found enough support at the 2380 level to turn around and form a nice looking hammer.
The US dollar fell against the Japanese yen initially during the day as a bit of a “risk off” move started. Ironically, in a somewhat “risk off” session, the Australian dollar rallied.
The WTI Crude Oil market rallied on Thursday, breaking above the $47.50 level. The natural gas markets broke above the $3.33 level during the session on Thursday, showing signs real strength and I think we may go looking for the $3.50 level which will be more resistive.
Gold prices rose $5.93 an ounce on Thursday, erasing most of the losses posted earlier in the week, as falling U.S. stocks prompted a bit of safe-haven demand.
Bonuses & Promotions
The EUR/USD pair initially tried to rally during the day on Wednesday, but found the 1.09 level to be too resistive. The British pound try to break above the 1.2950 level again during the day on Wednesday but turned around to form a shooting star.
The US dollar initially fell on Wednesday, but turned around to form a nice-looking hammer at the top of an uptrend by the time we closed.
The S&P 500 initially fell slightly during the day on Wednesday, but turned around to form a bullish candle. If the S&P 500 looked bullish at the end of the day, the NASDAQ 100 looks even more so
The WTI Crude Oil market exploded to the upside during the day on Wednesday after the Crude Oil Inventories announcement came out much more bullish than anticipated.
Get the NZD/USD Forex signal for May 11, 2017 here.
Get the AUD/USD Forex signal for May 11, 2017 here.