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
Gold prices settled at $1293.97 an ounce on Friday, making a gain of 2.2% on the day and 5% over the month.
The NZD/USD pair had a slightly positive month for April, but it appears that the market is struggling at the 0.70 level.
The USD/CAD pair fell significantly during the course of April, as it broke below the 1.30 level. With this, it looks as if we are reaching some type of inflection point.
Check out our trading strategies series with our monthly and weekly forecasts of the currency pairs worth watching using support and resistance for this week of May 2, 2016 here.
The EUR/JPY pair tried to rally during the course of the month a couple of times in April, but with this being the case it looks as if the downtrend is a very much in effect still, but I think that we may see a bit of consolidation at this point.
The EUR/USD pair went back and forth during the course of the month on April, as we continue to grind away between the 1.10 level on the bottom, and the 1.15 level on the top.
The AUD/USD pair initially found quite a bit of positivity during the course of the month of April, but at this point in time it appears that the market is starting to struggle. Get the May 2016 forecast for the AUD/USD pair here.
Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of May 2, 2016.
Get the Forex forecast for the week of May 2, 2016 focusing on major currency pairs like the EUR/USD, GBP/USD, USD/JPY and more.
Gold prices advanced for a fourth straight session on Thursday as weakness in the dollar and Bank of Japan's decision to stand pat on policy bolstered demand for the precious metal.
The USD/JPY pair fell rather significantly during the course of the day on Thursday, dropping below the 108 level. The New Zealand dollar rose during the course of the day on Thursday, as the market tested the 0.70 level yet again.
The EUR/USD pair initially fell during the day on Thursday but turned back around to form a bullish candle, and that being the case the market looks as if it is going to try to grind towards the 1.14 level above.The GBP/USD pair rose during the course of the session on Thursday, as the 1.45 level continues offer support.
The WTI Crude Oil market went back and forth during the course of the session on Thursday, as we tested the $46 level. The natural gas markets fell significantly during the course of the session on Thursday, wiping out most of the gains from the Wednesday session.
The S&P 500 fell during the course of the session on Thursday, breaking below the 2080 handle. The NASDAQ 100 fell significantly during the course of the session on Thursday, testing the 4360 handle.
Get the NZD/USD Forex Signal for April 28, 2016.