The Brazilian real continues to lose strength against the greenback as a lot of traders out there are starting to focus on the attitude of global markets in general and global growth.
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 West Texas Intermediate Crude Oil market has continued to show a lot of resiliency, as we see buyers jump in and try to fill the gap at the $41 level.
Gold markets were very volatile during the trading session on Thursday, as we reached towards the $1750 level, but then pulled back rather significantly.
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Short term traders must be able to change their direction quickly.
During yesterday's trading session, the USD/JPY moved lower and broke below the 107.00 support with losses to 106.95 before settling around the 107.05 level in the beginning of Thursday's trading.
The recent pessimistic view from the US Federal Reserve and the renewed global geopolitical tensions.
Sterling pairs are awaiting the Bank of England monetary policy decisions today.
As we expected, the single European currency will continue to face pressures due to markets' doubts about the possibility of passing stimulus plans by the European Union leaders, and this situation negatively affects any EUR/USD.
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The British pound fell initially during the trading session on Wednesday, as we have seen a bit of a “risk off” move early in the day but was turned around as we are close to a significant support level.
The Euro looks as if it may try to rally a bit from this general vicinity, but as you can see on the last couple of candlesticks, we have had sellers above.
The NASDAQ 100 has rallied again during the trading session on Wednesday, breaking above the 10,000 level during the day.
The US dollar has initially tried to break above the ¥107.50 level but then pulled back a bit to show signs of exhaustion.
USD/JPY: New resistance level near round number at 107.00
The S&P 500 has tried to rally during the trading session on Wednesday, but as you can see gave up quite a bit of the gains as we continue to see resistance just above.