Despite the announcement from the US Federal Reserve about its decision to reduce bond purchases, the USD/JPY remained stable around the 114.00 resistance.
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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I expected that gold may decline with the announcement of the US Federal Reserve, and indeed gold fell to $1758.
The USD/TRY continues to trade within the upper tier of record breaking prices, and the lack of a serious selloff could propel more speculation.
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The USD/BRL came off mid-term highs yesterday and traded lower as financial institutions likely reacted to the U.S. Federal Reserve’s monetary policy statement.
The USD/MXN turned in a rather dramatic trading performance yesterday, but one that was anticipated taking into account nervous conditions.
The NZD/USD has managed to maintain the upper part of its mid-term range, and after a reversal lower yesterday has seen some buying.
The German market was a bit quiet on Wednesday, but it is obvious that we still are very bullish, so think it is only a matter of time before we continue to go higher.
The FTSE 100 went back and forth on Wednesday, as we are trying to keep above the 7200 level.
The USD/NOK is a pair that most retail traders tend to ignore, which is too bad.
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The crude oil inventory number showed a bigger-than-anticipated build, but at the end of the day, the crude oil market is still very much in an uptrend.
Gold markets fell rather hard on Wednesday, slicing through the 50-day EMA like it was not even there.
The Australian dollar initially tried to rally on Wednesday but continues to look at the 200-day EMA as a potential barrier.
The Bitcoin market initially pulled back on Wednesday but recovered a bit to show signs of life again.
The natural gas markets have been very noisy over the last couple of months, and a lot of my emails from readers have been asking me when it is time to start shorting natural gas, because it has gotten “way too expensive.”
The NASDAQ 100 rallied significantly on Wednesday, especially after Jerome Powell announced basically what everybody had anticipated as far as tapering and quantitative easing is concerned.