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 oil market simply cannot get out of their own way. Natural gas markets rallied on Friday, but I believe this is a simple retest of the psychologically important $3 handle.
The US dollar fell against the Japanese yen during the Friday session, breaking the back of a hammer from Thursday. The Australian dollar rose slightly against the US dollar on Friday as we continue to test the 0.77 region.
The Euro initially tried to rally during the day on Friday but found a little bit of resistance just below the 1.08 handle, which has been resistance previously.
Gold prices settled at $1229.28 an ounce on Friday, scoring a gain of 2% on the week, as the dollar came under pressure.
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The euro initially fell during the session on Thursday but found enough support at the 1.07 level to turn around and start trading higher. The British pound initially fell on Thursday as well, but much like the euro found legs later in the day.
The WTI Crude Oil market initially tried to rally during the session on Thursday, but turned around to show weakness yet again. Natural gas market fell during the day on Thursday as we continue to teeter around the 2.80 handle.
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The US dollar did very little against the Japanese yen on Thursday, but interestingly enough found a lot of support at the 113 handle. The Australian dollar fell slightly against the US dollar during the Thursday session, as the 0.77 level offered resistance.
The S&P 500 trying to rally during the session on Thursday but continues to find resistance just below the 2400 level. The NASDAQ 100 tried to rally during the Thursday session, and even made a fresh, new high at one point.
Gold rose for a second straight session on Thursday as weakness in the dollar bolstered demand for the precious metal.
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