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 EUR/USD pair fell on Monday, dropping below the 1.05 level again. The British pound fell on Monday, showing signs of weakness and it appears that the market is going to continue the downtrend that we have seen recently.
Oil markets currently find themselves reaching towards the $54 level, but that’s an area of that is going to offer a little bit of resistance. The natural gas markets sat still course on Monday but currently find themselves testing the $3.75 level.
The US dollar continues to see bullish pressure against the Japanese yen, and rose on Monday yet again. The Australian dollar fell on Monday, reaching towards the 0.7150 handle.
The S&P 500 was closed on Monday, as banks continue to celebrate New Year’s Day. The NASDAQ 100 and a very negative Friday, but of course was closed on Monday.
Gold markets continue to see negative pressure, as the session on Monday went long. We tested the $1150 level, that I have marked on the chart.
The EUR/USD pair has had a rough couple of weeks, but we are starting to find support underneath the 1.05 level.
The USD/JPY pair has seen a massive explosion to the upside over the last several weeks.
The New Zealand dollar has been volatile over the last couple of weeks, as we have broken down below an uptrend line, and more recently have tried to rally towards the 0.70 level above.
The GBP/JPY pair continues to be very volatile, but over the last couple of weeks we have seen a bit of a pullback.
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The British pound continues to find sellers going forward, as we have broken down below the uptrend line that had been so supportive over the last couple of months.
The WTI Crude Oil market fell during the day on Friday, as we continue to run out of steam. The natural gas markets initially tried to rally and Friday but then turned around to crash through the $3.75 level.
The S&P 500 initially tried to rally during the day on Friday, but turned around to form a negative looking candle. The NASDAQ 100 initially tried to rally during the day on Friday, but then turned around to fall through the 4900 level.
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The EUR/USD pair went back and forth during the day on Friday, as end-of-the-year position squaring took center stage. The British pound rallied on Friday, but remains well below the resistance above, as the previous uptrend line should now offer quite a bit of selling pressure.
Get our trading strategies series with our monthly and weekly forecasts of the currency pairs worth watching using support and resistance for the week of January 2, 2017.