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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Gold ended the holiday-shortened week down by 3.5% at $1217 an ounce as the possibility of an earlier-than expected rise in U.S. interest rates weighed on the market.
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The EUR/USD pair initially fell during the course of the session on Thursday, but found enough support below to turn around and form a perfect hammer. The GBP/USD pair went higher during the course of the session on Thursday as we bounced off of the 1.40 region.
The WTI Crude Oil market fell initially during the day on Thursday but found the $38 level supportive enough to have the market bounce and form a hammer. The natural gas markets rose during the course of the session on Thursday, but could not hang onto the gains for any significant amount of time.
The S&P 500 initially fell during the day on Thursday, but found more than enough support near the 2020 level to turn things around and form a bit of a hammer. The NASDAQ 100 did the same thing, initially falling to the 4360 level only to turn back around and form a hammer.
During the course of the session on Thursday, the USD/JPY pair initially fell but we found enough support near the 112 level to turn around and form a hammer. The AUD/USD pair fell initially during the course of the session on Thursday, but the area below the 0.75 offered enough support to turn the market back around and form a hammer.
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The USD/JPY pair initially tried to rally during the course of the session on Wednesday, but turned right back around to form a nice-looking shooting star. The AUD/USD pair fell hard during the course of the session on Wednesday, reaching towards the 0.75 level.
The EUR/USD pair fell during the day on Wednesday, testing the 1.12 level. The GBP/USD pair fell during the course of the day on Wednesday, as we continue to see bearish pressure.
The WTI Crude Oil markets fell during the course of the day, slicing through the $40 handle. The natural gas markets have been in a massive downtrend for some time, but during the course of the session on Wednesday, they initially tried to break out to the upside.
The S&P 500 fell during the day on Wednesday, testing the 2040 level. The NASDAQ 100 fell during the course of the session on Wednesday as well, slamming into the 4400 level.