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 EUR/USD pair went back and forth during the day on Friday, as end-of-the-year position squaring took center stage. The British pound rallied on Friday, but remains well below the resistance above, as the previous uptrend line should now offer quite a bit of selling pressure.
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For the first half of the year, the precious rallied from that low to $1375 at the beginning of July as the greenback remained weak on perception that bleak economic growth, along with global issues, would keep the Federal Reserve from raising interest rates four times as it projected.
The WTI Crude Oil market rallied on Thursday, but found enough resistance above to turn around to form a bit of a shooting star. The natural gas markets fell on Thursday, testing the $3.75 level for support.
The S&P 500 fell slightly during the session on Thursday, as we continue to see a little bit of softness creep into this market. The NASDAQ 100 fell during the day on Thursday, testing the 4900 level below.
The EUR/USD pair rallied on Thursday, as traders started to take profits after selling. The British pound initially rallied on Thursday but turned around to form a shooting star-like candle.
The US dollar fell against the Japanese yen during the Thursday session, as many traders will have taken profits for the end of year reporting. The Austrian dollar rallied on Thursday, as it’s possible that the move was based upon profit-taking as we have seen so many traders short this market.
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Get the NZD/USD Forex signal for December 29, 2016 here.
Get the AUD/USD Forex signal for December 29, 2016 here.
Get the USD/JPY Forex signal for December 29, 2016 here.
Get the USD/CAD Forex signal for December 29, 2016 here.
Get the USD/CHF Forex signal for December 29, 2016 here.
Get the GBP/USD Forex signal for December 29, 2016 here.