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 Australian dollar has been rather choppy over the last several weeks as I write this, but most importantly we have broken down below a significant uptrend line.
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The US dollar has been falling against the Canadian dollar as of late, and as a rank in this article, we are testing a fairly significant support line. Get the forecast for the new trading quarter as 2017 approaches here.
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Gold prices settled at $1133.64 an ounce on Friday, ending the week just below where they started, as traders digested a series of mixed U.S. data releases.
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The US dollar fell slightly against the Japanese yen on Friday, but quite frankly that’s a trading session that I would ignore. The AUD/USD pair fell on Friday, as traders will continue to look to the gold markets for guidance.
The S&P 500 had a quiet session on Friday as one would expect, as traders will have been thinking more about Christmas than putting money in a risky position. The NASDAQ 100 dipped on Friday, but did find enough buying pressure underneath to turn around and form a slightly positive candle.
The WTI Crude Oil market initially fell on Friday, but then found buyers as we got a bit bullish later in the session. Natural gas markets rose on Friday, trying to fill the gap above.
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The EUR/USD pair rallied on Friday, but continues to see a lot of resistance at the 1.05 level. The British pound initially fell on Friday, but bounced enough to form a hammer.
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The EUR tried to rally during the Thursday session, but found far too much in the way resistance at 1.05 to continue going higher. The British pound initially tried to rally on Thursday but fell enough to break below the 1.23 level.
The WTI Crude Oil market went back and forth on Thursday, as we filled the gap from earlier in the week. The natural gas markets went back and forth on Thursday, as we saw a support level at the 3.50 level, and a resistance barrier and of the $3.60 level.
The Forex market was quiet during the Thursday session, and the USD/JPY pair wasn’t any different. The Australian dollar of course fell during the session on Thursday, after initially trying to rally.
The S&P 500 fell a bit during the day on Thursday, approaching the 2250 region. The NASDAQ 100 fell also, dropping down to the 4900 level.