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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Forex Technical Analysis
Begin the month of September 2016 with our weekly Forex forecast focusing on some of the major currency pairs here.
During the day on Thursday, the WTI grade of crude oil got absolutely pummeled yet again. Natural gas markets got hit pretty hard during the session on Thursday as well.
The S&P 500 had a very volatile session on Thursday, as we continue to bounce around in fairly thin markets. The NASDAQ 100 initially fell during the day on Thursday but formed a hammer just as it did on Wednesday.
After forming a hammer on Wednesday, the Euro rallied against the US dollar and slammed into the 1.12 level. The British pound rose during the course of the day on Thursday, showing real strength.
Initially, the US dollar rallied against the Japanese yen but turned back around to form a bit of a shooting star on Thursday. The New Zealand dollar rallied during the day on Thursday, but still struggles at the 0.73 level.
Gold prices ended the month down 2.95% as a strong run in major equity markets around the globe and renewed confidence in the U.S. economy led investors to reduce their safe-haven positions.
Get the NZD/USD Forex Signal for September 1, 2016 here.
Get the AUD/USD Forex Signal for September 1, 2016 here.
Get the USD/JPY Forex Signal for September 1, 2016 here.
Get the USD/CAD Forex Signal for September 1, 2016 here.
The S&P 500 fell significantly during the course of the day on Wednesday initially, but we did get a little bit of a bounce towards the end of the day. During the course of the session on Wednesday, the NASDAQ 100 market fell initially, but turned right back around to form a hammer.
The WTI Crude Oil market fell significantly during the course of the session on Wednesday, as the Crude Oil Inventories number came out much more bearish than anticipated, as demand seems to be slipping a bit. The natural gas markets bounced significantly during the course of the session on Wednesday, as we continue to grind back and forth.
The US dollar rose against the Japanese yen during the day on Wednesday, as we continue to see bullish pressure. The Australian dollar fell initially during the day on Wednesday but found enough support to bounce and turn things back around to form a hammer.
The Euro initially fell during the course of the session on Wednesday, but turned back around form a hammer. The British pound rallied a bit during the course of the day on Wednesday, as the area near the 1.30 level continues offer quite a bit of support.
Get the USD/CHF Forex Signal for September 1, 2016 here.