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
The S&P 500 initially fell on Friday but turned around to form a slightly positive candle. The NASDAQ 100 fell initially on Friday but found enough support at the 4650 level again to turn things around and form a hammer.
The WTI Crude Oil markets fell during the day on Friday, as we continue to see a serious lack of demand. Natural gas markets fell during the day on Friday, testing the $2.75 level.
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The EUR/USD pair went back and forth on Thursday as we continue to try to jostle for position at of the Nonfarm Payroll Numbers. The British pound rose during the day on Thursday as the Bank of England failed to raise the amount of quantitative easing going into the market.
The USD/JPY pair fell during the day on Thursday, but found enough support just below the 103 level to turn things around and form a nice-looking hammer. The AUD/USD pair initially fell during the day on Thursday but found buyers as time went on.
The WTI Crude Oil market fell significantly during the day on Thursday, as we continue to see bearishness. The natural gas markets went back and forth during the Thursday session, forming a neutral candle.
The S&P 500 initially tried to rally during trading on Thursday but turned around to form an exhaustive looking shooting star. The NASDAQ 100 also rose during the day initially but turned around to form a shooting star.
Gold prices ended Thursday's session up $5.53, extending their gains to a third-straight session, as the sharp declines in stock markets around the world increased desire for safe haven diversification.
The EUR/USD pair has been going higher recently, mainly due to the presidential polls in the United States tightening up.
Over the last couple of weeks, the WTI Crude Oil market has turned around completely and ended up rolling over. I believe that this will continue going forward, but there could be choppiness from time to time.
The GBP/USD pair has been going back and forth for quite some time now, as shown on the weekly chart that I have attached to this article.
The NZD/USD pair rallied rather significantly during the month of October, and now finds itself above the 0.72 handle.
The USD/CAD pair has been grinding higher lately, and I believe that will continue to be the case.