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 on Wednesday, but turned around and broke down through the 115 handle. The Australian dollar showed a certain amount of stubbornness during the day on Wednesday, as we broke down to the upside and screamed towards the 0.75 handle.
The S&P 500 had a volatile session on Wednesday, chomping around all day. The NASDAQ 100 went back and forth on Wednesday as well, as we continue to see volatility.
The WTI Crude Oil market bounced significantly during the Wednesday session, which was a bit ironic considering that the oil markets produced a very bearish inventory number coming out of the United States.
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The Euro initially rallied on Tuesday but found enough resistance just above the 1.06 level to turn things around and start selling off again. The GBP/USD pair initially fell on Tuesday, but found enough support underneath at the 1.21 level underneath to form a hammer.
The S&P 500 rallied on Tuesday, as we found plenty of support just underneath. The NASDAQ 100 broke out to the upside on Tuesday, showing signs of significant strength.
The WTI Crude Oil market initially tried to rally during the day on Tuesday, showing signs of exhaustion soon after. Natural gas markets continue to show signs of volatility as we bounced significantly during the day on Tuesday, reaching above the $3.25 level.
The USD/JPY pair went back and forth on Tuesday, testing the 115 level for support. The AUD/USD pair went back and forth, showing signs of choppiness and indecision.
Gold prices rose $6.13 an ounce on Tuesday to settle at their highest level in six weeks, buoyed by an easing U.S. dollar and physical buying in Asia.