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 April 18, 2016.
Get the weekly Forex forecast for major currency pairs like the EUR/USD, USD/CAD and more for the week of April 18, 2016 here.
The EUR/USD pair went back and forth during the course of the day on Thursday, showing bits of support after a significant fall during the Wednesday session. The GBP/USD pair fell initially during the course of the day on Thursday, but found enough support to turn around and form a hammer.
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The USD/JPY pair initially fell during the course of the session on Thursday, but turned right back around to form a hammer. The AUD/USD pair tried to break out to the upside during the course of the day on Thursday but continued to struggle a bit.
The WTI Crude Oil market initially fell during the course of the session on Thursday, but turned right back around to form a bit of a hammer. The natural gas markets fell during the course of the day on Thursday, continuing to show quite a bit of resiliency by the sellers.
The S&P 500 initially fell during the course of the session on Thursday, but turned back around to form a bit of a hammer. The NASDAQ 100 went back and forth during the course of the session on Thursday, showing signs of resiliency and although we didn’t continue to go higher, we did not follow either.
Gold prices continued to fall yesterday, extending losses to third straight session, as a stronger dollar reduced the appeal of the precious metal as an alternative investment.
Get the NZD/USD Forex signal for April 14, 2016 here.
Get the AUD/USD Forex signal for April 14, 2016 here.
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Get the USD/JPY Forex signal for April 14, 2016 here.
The EUR/USD pair broke down significantly during the course of the session on Wednesday, breaking down below the 1.13 level. The GBP/USD pair fell significantly during the course of the session on Wednesday, testing the bottom of the shooting star from the Tuesday session.
The WTI Crude Oil market initially tried to rally during the day on Wednesday, but found the $42 level be far too resistive to continue going higher. The natural gas markets rose during the course of the session on Wednesday, closing just above the $2 level.
The USD/JPY pair rose again during the day on Wednesday, as it looks like the market is heading towards the 110 level. The AUD/USD pair fell during the course of the session on Wednesday, but remains well within the overall consolidation that has a lower level of 0.75, and an upper level of the 0.77 region.
The S&P 500 broke higher during the course of the session on Wednesday, using the 2060 level as a springboard. As mentioned above, I am willing to buy US indices, but also recognize that it isn’t necessarily going to be the easiest move to go higher.
Get the USD/CAD Forex signal for April 14, 2016 here.