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 WTI Crude Oil market went back and forth during the day on Wednesday again as we continue to hover just below the $50 level. Natural gas markets had a very bullish session on Wednesday, slicing through the $2.85 level.
The EUR/USD pair initially fell during the day on Wednesday, but found enough support underneath the 1.17 level to bounce and form a nice-looking hammer. The British pound had a choppy session during the Wednesday session as well, testing the 1.30 level.
The S&P 500 gapped lower at the open on Wednesday, but found enough support underneath to turn around and form a hammer. The NASDAQ 100 also fell, reaching down towards the 5850 handle.
The US dollar fell initially during the day on Wednesday, as people are reacting to all of the news out of North Korea. The Australian dollar fell during the day as well, as the “risk off” trade came back into play.
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Gold prices rallied to nearly $1280 an ounce on Wednesday as rising tensions between the U.S. and North Korea stoked demand for the safe-haven metal.
Gold has erased its earlier gains and is trading slightly lower in afternoon U.S. trading. XAU/USD initially tried to break out to the upside however,
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The EUR/USD pair had a negative session during Tuesday trading, especially after the jobs announcement came out of the United States. The British pound fell during the day on Tuesday, slicing through the 1.30 level.
The US dollar fell significantly during the day on Tuesday, reaching much lower. The Australian dollar had a choppy session during the day on Tuesday, as we continue to tread water just above the 0.7875 handle.