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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The US dollar went back and forth against the Japanese yen during trading on Wednesday, as we continue to juggle around the ¥112 level.
The S&P 500 finally choked up some losses during the trading session on Wednesday after we initially tried to rally.
The WTI Crude Oil market rallied initially during trading on Wednesday but continues to see a lot of resistance near the $65 handle.
Gold markets fell again after initially trying to rally on Wednesday, but then broke down towards the $1275 level again.
On Wednesday, markets and investors in the FX market will watch the reaction from the announcement of GDP figures and industrial production from China.
Although GBP/JPY is stable with gains closer to resistance level at 147.00, the continuation of this move will depend on any positive developments for Brexit.
The bullish momentum helped the USD/JPY test to the 112.16 resistance level in early morning trade, the pair's highest level since four months, as investors took risks and abandoned safe haven assists, led by the Japanese Yen.
For the second day in a row, the USD/CAD pair moved in a bearish correction to the 1.3320 support at the time of writing the analysis from the 1.3402 resistance level, as investors continued to take risk currencies and crude oil prices held stronger gains.
On Wednesday, April 17, 2019, the markets will be interested in announcements from the economic calendar data, which usually results in changes in price movements.
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The strength of the US dollar, along with more risk appetite, translates into heavy losses for yellow metal, one of the most important safe havens.
As for the euro in general, investors are still losing confidence as the Euro-Zone economy continues to slow, led by Germany, as US trade wars continue.
The Euro broke lower during the trading session on Tuesday, breaking the 50 day EMA.
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The S&P 500 rallied a bit during the trading session on Tuesday, but then turned around to form a shooting star.
The WTI Crude Oil market pulled back a bit during the trading session initially on Tuesday but found enough buyers underneath the turn around to break above the $64 level again.