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 EUR/USD pair is trying to show cohesion ahead of the important announcement today by the European Central Bank led by Christine Lagarde to update its monetary policy.
The US dollar fell during the trading session on Wednesday, but as you can see struggles to maintain any type of serious trend.
The S&P 500 closed right at the 200 day EMA and the top of the gap that I have been talking about for some time.
The NASDAQ 100 has cleared the 9000 level during the trading session on Wednesday, so it now looks as if we are going to reach towards the highs again.
The Euro rallied significantly during the trading session on Wednesday, reaching towards the top of the candlestick from the previous session, and at this point it looks like we are going to continue to see a lot of noise.
AUD/USD: Trading above big round number of 0.6500
USD/JPY: USD is weak across the board
BTC/USD: Bitcoin makes 2-month high price
The British pound has struggled to break above the 1.25 level again during the trading session on Wednesday, even as Federal Reserve Chairman Jerome Powell suggested that the Federal Reserve was willing to liquefy markets forever.
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The Australian dollar has rallied significantly during the trading session on Wednesday, slicing through the 0.65 level like it was not even there.
The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Wednesday and did keep quite a bit of the gains as we closed up 24%.
The US dollar got crushed during the trading session on Wednesday, breaking through the 76 Rupee level as the Federal Reserve has reiterated their desire to stimulate the economy until employment is back to where it once was essentially.
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The markets continue to find buyers in general as we have reached towards the $1700 level only to find quite a bit of buying pressure to form a massive hammer.
Yesterday’s first-quarter GDP data out of the US showed a steeper contraction together with a rise in inflation, representing the most unfavorable combination for the US Federal Reserve to address.