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 NZD/USD Forex signal for October 19, 2017 here.
Get the BTC/USD Forex signal for October 19, 2017 here.
The EUR/USD pair initially fell during the day on Wednesday, but found enough support to turn around and form a hammer.
The US dollar rallied significantly during the day on Wednesday, breaking the top of the shooting star from Tuesday, which is always a very bullish sign.
Crude oil markets got a bit of a boost during the session on Wednesday, as the inventory number was a lot more bullish than anticipated.
The S&P 500 rallied during the day on Wednesday, reaching towards the 2560 level. The NASDAQ 100 went back and forth during the day, but is a bit overbought anyway.
Get the USD/JPY Forex signal for October 19, 2017 here.
Check out the USD/CAD Forex signal for October 19, 2017 here.
Get the GBP/USD Forex signal for October 19, 2017 here.
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Get the EUR/USD Forex signal for October 19, 2017 here.
Gold prices dropped $4.22 an ounce on Wednesday, dragged down by a stronger dollar and U.S. equities closing at record highs.
The unchanged inflation in the Eurozone, as expected, and the return of the USD strength, is pushing the dollar’s index to 93.51 DXY.
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The GBP/JPY was under bearish pressure below 148 level, which supports the bearish corrective move of this pair.
Since the USD/JPY lost the peak of 113.43, the bearish pressure increased on the pair, and remained stable for two weeks in tight ranges between 111.65 and 112.50, waiting for new catalysts to move in any direction.