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.
Forex Technical Analysis
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Forex Technical Analysis
For the first half of the year, the precious rallied from that low to $1375 at the beginning of July as the greenback remained weak on perception that bleak economic growth, along with global issues, would keep the Federal Reserve from raising interest rates four times as it projected.
The EUR/USD pair rallied on Thursday, as traders started to take profits after selling. The British pound initially rallied on Thursday but turned around to form a shooting star-like candle.
The S&P 500 fell slightly during the session on Thursday, as we continue to see a little bit of softness creep into this market. The NASDAQ 100 fell during the day on Thursday, testing the 4900 level below.
The WTI Crude Oil market rallied on Thursday, but found enough resistance above to turn around to form a bit of a shooting star. The natural gas markets fell on Thursday, testing the $3.75 level for support.
The US dollar fell against the Japanese yen during the Thursday session, as many traders will have taken profits for the end of year reporting. The Austrian dollar rallied on Thursday, as it’s possible that the move was based upon profit-taking as we have seen so many traders short this market.
Get the NZD/USD Forex signal for December 29, 2016 here.
Get the AUD/USD Forex signal for December 29, 2016 here.
Get the USD/JPY Forex signal for December 29, 2016 here.
Get the USD/CAD Forex signal for December 29, 2016 here.
Get the USD/CHF Forex signal for December 29, 2016 here.
Get the GBP/USD Forex signal for December 29, 2016 here.
Get the EUR/USD Forex signal for December 29, 2016 here.
The EUR/USD pair during the day on Wednesday rallied, but found enough resistance near the 1.05 level above to turn the market around. The British pound had a negative session again during the day on Wednesday, as we continue to see various pressure on the British pound mainly due to fears about leaving the European Union.
The WTI Crude Oil market had a volatile session during the session on Wednesday, as we await the Crude Oil Inventories announcement coming out today, which of course has quite a bit of influence on where this market goes next.
The S&P 500 initially tried to rally on Wednesday, but found enough selling pressure above to turn the market around. The NASDAQ 100 initially rallied during the session on Wednesday, but found 5000 to be too resistive as well.