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.
The S&P 500 initially fell during the day on Friday, but just as we have seen time and time again, the buyers returned to turn the market around and form a somewhat supportive looking candle. The NASDAQ 100 initially broke down as well, but turned around to form a hammer.
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Gold prices dropped $12.24 an ounce on Friday, surrendering the majority of the gains made earlier in the week, as the Fed minutes and two Fed officials' comments raised traders' expectations of a U.S. rate hike this year.
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The Euro rose drastically during the session again on Thursday, breaking above the 1.1350 level. The GBP/USD pair rallied during the session as well, and I think it’s for the same essential reason, the Federal Reserve and its inability to raise interest rates anytime soon.
The US dollar initially tried to rally during the course of the day on Thursday, but turned right back around to form a bit of a shooting star. The New Zealand dollar rally during the course of the day on Thursday, slamming into the 0.73 handle.
The S&P 500 fell initially during the course of the day on Thursday, but turned right back around to form a bit of a hammer for the session on Thursday. In the NASDAQ 100, we fell again and ended up forming a hammer just as we did in the S&P 500.
The WTI Crude Oil market broke higher during the course of the day on Thursday, as we continue to see quite a bit of bullish pressure. Natural gas markets rose during the course of the session on Thursday as well, breaking above the $2.60 level.
During the day on Thursday, we saw the US dollar fall a bit against the Mexican peso, but we did also see the 18 handle offer a bit of support yet again.
The USD/JPY pair initially tried to rally during the course of the session on Tuesday, but turned right back around to form a shooting star. The Australian dollar fell significantly during the day on Tuesday, but turned right back around to show signs of support.
