The USD/CAD sprang higher late last night as the U.S Federal Reserve announced its interest rate policy and resistance levels crumbled quickly.
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 USD/JPY saw a sudden burst of volatility late last night upon the interest rate policy statement from the U.S Federal Reserve.
Speculators should take a long look at the Brazilian real as it trends near important support levels and has produced a capable trend.
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ETH/USD has traded lower the past two days and it has broken through short-term support ratios which may be causing concern among bullish speculators.
The market is obviously seeing bullish pressure based upon the fact that a lot of short covering happened later in the day.
The euro got absolutely crushed during the trading session on Wednesday as the Federal Reserve came out and suggested that inflation was running a bit hotter than originally anticipated.
The British pound initially tried to rally during the trading session on Wednesday but then gave back the gains as people start to worry about the Federal Reserve and whether or not it is going to taper within the next couple of years.
Gold markets got hit during the trading session on Wednesday, breaking down below the crucial $1850 level as the statement coming out of the Federal Reserve suggests that perhaps they will be tightening rates sooner than originally thought.
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It is only a matter of time before the buyers come back into the marketplace and try to pick up a little bit of value.
Support near 1.2000 breaks down.
Cardano is testing a very serious level that will determine where we go next.
The DAX Index was relatively quiet during the trading session on Wednesday as we continue to hang near the 15,700 level.
The FTSE 100 did rally during the trading session initially on Wednesday to reach above the 7200 level, an area that I talked about over the last couple of days.
The West Texas Intermediate Crude Oil market rallied again during the trading session on Wednesday but pulled back a bit from the $72.50 level.