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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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Limited optimism in the performance of global financial markets, especially stocks, contributed to the decline in gold prices to the $1563 level.
Attempts for a bullish correction for the GBP/USD pair are still weak, with the continued USD strength, despite the monetary policy announcement from the US central bank, the pair did not exceed its gains at 1.3030, after falling back towards the 1.2975 support.
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For the second consecutive day, the EUR/USD pair failed to exceed the 1.0992 support, its lowest level in nearly two months.
The US dollar has gone back and forth during the trading session on Wednesday, as we continue to dance around the 50 day EMA.
The S&P 500 has rallied initially during the trading session on Wednesday, as we continue to see a lot of back and forth.
The NASDAQ 100 has filled the gap from earlier in the week, and now looks ripe to pull back slightly.
The British pound has pulled back a bit during the trading session on Wednesday but continues to find support near the uptrend line that has been important for some time.
The Euro has broken down below the 1.10 level during trading on Wednesday, which of course has been a major support level over the last several months.
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The Australian dollar has rallied a bit during the trading session initially during Wednesday, but then broke down below the 0.6750 level.
AUD/USD: Lots of room to fall further
USD/JPY: Risk-off shocks boost Yen
The West Texas Intermediate Crude Oil market has initially gapped higher to kick off the trading session on Wednesday, only to turn around and reach towards the bottom of the overall consolidation range that it has been in for some time.
The natural gas markets have fallen during the trading session on Wednesday, as we continue to see this market dance around below the $1.90 level.
Gold markets rallied a bit during the trading session on Wednesday, bouncing from a pullback towards the $1565 level to show signs of life again.