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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Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of December 11, 2016.
The EUR/USD pair initially tried to rally during the Thursday session, but ran into far too much resistance above to continue going higher. The British pound initially rallied on Thursday but found enough resistance near the 1.27 area to find sellers again, which of course was the 50% Fibonacci retracement level from before.
The S&P 500 rallied during the session on Thursday, testing the 2250 handle. The NASDAQ 100 had a slightly bullish candle form for the Thursday session as it looks all but set to reach towards the 4900 level.
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The WTI Crude Oil market bounced off of the uptrend line that I had discussed yesterday, and the $50 level. Natural gas markets fell initially during the day but found enough support at the $3.50 level to turn things around and show a very bullish candle.
The US dollar went back and forth against the Japanese yen during the session on Thursday, as we continue to see quite a bit of choppiness. The New Zealand dollar went back and forth on Thursday as we continue to see quite a bit of choppiness, but we are testing the bottom of the uptrend line that should now be resistive.
Gold prices fell $3.87 on Thursday as global equities strengthened and the dollar rallied.
Get the NZD/USD Forex signal for December 8, 2016 here.
Get the AUD/USD Forex signal for December 8, 2016 here.
Get the USD/JPY Forex signal for December 8, 2016 here.
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Get the USD/CAD Forex signal for December 8, 2016 here.
Get the USD/CHF Forex signal for December 8, 2016 here.
Get the GBP/USD Forex signal for December 8, 2016 here.
Get the EUR/USD Forex signal for December 8, 2016 here.
The WTI Crude Oil market had a very negative candle form for the Wednesday session, testing the $50 handle. The natural gas markets initially tried to rally but look very overextended at this point, as we ended up forming a shooting star.
The S&P 500 broke out to the upside on Wednesday, as we continue to see buyers enter this market. The NASDAQ 100 initially fell on Wednesday, but turned around to find quite a bit of bullish pressure as we smashed through the 4800 level.