Consumer credit in the US came in well below expectations in September and dropped sharply as compared to August.
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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Despite the return of the Japanese yen strength against other major currencies, the price of USD/JPY maintained its bullish momentum and losses did not exceed the 108.65 support, and gains this week reached the 109.24 resistance level the highest level in three months.
After the price of gold fell to the $1480 support, the yellow metal is trying to recoup its losses by bouncing back to the $1494 resistance, which is where it is stable at the time of writing.
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All traders' focus today will be on the Bank of England's announcement of its monetary policy, especially after the recent and rapid developments of the Brexit process
For four consecutive trading sessions, the EUR/USD is under downward pressure pushing it towards the 1.1055 support, its lowest level in three weeks.
The NASDAQ 100 has initially fallen during the trading session on Wednesday but has found enough support underneath near the 8150 level to turn around and form a bit of a hammer.
The Euro initially tried to rally during the trading session on Wednesday but gave back the gains a turnaround and form a bit of an inverted hammer.
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The British pound has fallen a bit during the trading session on Wednesday as we continue to see significant noise in the Forex markets.
The US dollar has fallen again during the trading session on Wednesday, reaching down below the 200 day EMA yet again
The S&P 500 initially fell during the trading session on Wednesday but turned around to form a nice-looking hammer in order to show underlying resiliency and strength.
Natural gas markets initially started out the day rather bullish on Wednesday but have pulled back a bit as we are getting a bit extended.
The Australian dollar continues to see a lot of noise in general, which makes quite a bit of sense considering just how noisy the situation has been in the Forex markets as of late.
The US dollar continues to find plenty of buyers overall, and recently has tested the crucial ¥109.50 level more than once