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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Get the EUR/USD Forex Signal for January 8, 2018.
Bitcoin markets rallied significantly during the Friday session, breaking above the top of the hammer from the previous session. Bitcoin was even more bullish against the Japanese yen, which is not a surprise considering the Japan is 40% of Bitcoin trading.
The EUR/USD pair fell during the trading session on Friday, but found enough support at the 1.20 level to show signs of life again. The British pound initially fell during the trading session on Friday as well, but turned around to form a slightly positive candle.
The S&P 500 rallied slightly during the session on Friday, which is a bit impressive considering that the jobs number missed significantly.
The WTI Crude Oil market fell significantly during the trading session on Friday, but turned around and bounced a bit to show signs of life.
The US dollar has rallied against the Japanese yen on Friday, which of course is significant considering that the jobs market number missed completely
Gold ended the week up by 1% at $1319.91 an ounce, recoding a fourth consecutive weekly gain, as the continued weakness in the dollar bolstered demand for the precious metal.
Check out our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of January 8, 2018.
Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of January 8, 2018.
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Check out the weekly Forex forecast for major pairs for the week of January 8, 2018.
Despite the positive US economic data and the strong support from the interest rate hike expectations in the current year
The GBP/USD has been moving in a cautious bullish move over the last 3 sessions in a row, settling between 1.3612
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Rising risk-on sentiment helped the EUR/USD to resume strong gains, as the pair moved towards the highest levels in 28 months, reaching towards the resistance at the 136.36 level, the highest level since October 2015.
Gold prices resumed the move towards resistance at $1321 level an ounce, the highest in 3 months, after the gold’s gains stopped around that level on Wednesday