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 USD/JPY Forex signal for June 6, 2016 here.
The EUR/USD pair rose rapidly during the day on Friday after we got the nonfarm payroll announcement, as the Americans only added 38,000 jobs during the month of May. The GBP/USD pair rose during the course of the session as well, and for the same reason essentially.
The S&P 500 initially fell during the day on Friday, in reaction to the poor jobs number coming out of America. The NASDAQ 100 also did the same thing, forming yet another hammer.
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The WTI Crude Oil markets initially fell on Friday in reaction to the poor jobs number, but also got a little bit of a boost by a shrinking US dollar. The natural gas markets have shot straight up over the last several sessions, but have gotten a bit overextended at this point.
The USD/JPY pair fell significantly during the course of the session on Friday, which of course makes sense considering that the jobs number was so bad. The AUD/USD pair broke higher during the day, as the US dollar failed against the Aussie. We closed at the very top of the range, and that looks as if we are going to continue to go much higher.
Gold prices settled at $1244.18 an ounce on Friday, making a gain of 2.52% on the week, as disappointing U.S. jobs data dimmed the prospect of an interest rate hike by the Fed in the near term.
Get the USD/CHF Forex signal for June 6, 2016 here.
Get the GBP/USD Forex signal for June 6, 2016 here.
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The USD/JPY pair fell during the course of the day on Thursday, testing the $108.50 level. The AUD/USD pair fell during the course of the day on Thursday, but found enough support near the 0.72 level to turn things around and form a hammer.
The EUR/USD pair initially tried to rally during the day on Thursday, but turned right back around at the 1.1250 region to form a negative candle. The GBP/USD pair initially tried to rally during the course of the day on Thursday, but turned right back around just below the 1.45 level to show that there is still significant noise in that area and of course resistance.