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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Cotton markets have pulled back a bit during the trading session on Thursday, as the $71 level continues offer a lot of resistance
The West Texas Intermediate Crude Oil market gapped lower at the open on Thursday, breaking all the way down to the $55 level as the inventory number was better than anticipated,
Natural gas markets initially tried to rally during the trading session on Thursday but ran into a lot of trouble at the $2.00 level again.
The S&P 500 has pulled back initially during the session on Thursday, as we are trying to form some kind of range for the market to build up the inertia to make fresh, new highs.
The NASDAQ 100 has initially pulled back during the trading session on Thursday, but then turned around to rally yet again.
The Euro initially tried to rally during the trading session on Thursday but found the area above the 50 day EMA as a little bit too expensive to continue going higher.
The British pound has pulled back a bit during the trading session on Thursday but has found a bit of buying pressure and bounce a bit towards the end of the day.
Despite the improvement in the reading of the ZEW index of German economic sentiment to the highest level since 2015.
Gold prices witnessed fluctuation in performance during yesterday's session between the $1569 resistance and a rapid decline.
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For three consecutive trading sessions, the price of the GBP/USD pair is in a bullish corrective move, with gains reaching the 1.3152 resistance before settling around 1.3120 at the time of writing.
The rapid spread of the deadly Corona virus in China at a very sensitive time forced the Chinese authorities to speed up taking the necessary measures to contain the situation.
The cotton markets rallied significantly during the trading session on Wednesday, breaking significantly above the $70 level, and then close near the $71 handle.
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The Euro initially fell during the trading session on Wednesday but has bounced slightly after extending below the 0.8450 level.
The Australian dollar has gone back and forth during the course of the session on Wednesday, as we had reached towards the down trending line that previously had been resistance.