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 S&P 500 initially tried to rally during the day on Friday, but found enough resistance of the 2150 level to turn things around and form a pretty massive shooting star. The NASDAQ 100 did very much same type of thing during the session on Friday, testing the 4850 handle for resistance.
Gold ended the week down $5.25 at $1251.80 an ounce as the greenback rose on expectations that the Federal Reserve was moving closer to raising interest rates.
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There will be a significantly heavier news schedule this week compared to last week, with central bank input due from the European Central Bank, Canada, and Australia. Get the economic calendar for the week of October 17, 2016 here.
The USD/JPY initially tried to rally during the course of the session on Thursday, but found the area close to the 105 level would be a bit too rich for the buyers. The Australian dollar fell during the day on Thursday, and rather significantly.
The S&P 500 initially had a very tough day on Thursday, testing the 2120 level, and even breaking down below there at one point in time. The NASDAQ 100 of course did very much the same thing as the S&P 500 did, finding support of the 4760 level.
The WTI Crude Oil market initially fell on Thursday, dropping near the $49.25 level. The natural gas markets initially fell on Thursday as well, but found enough support near the $3.12 handled the turn things back rent shoot straight up into the air.
The Euro initially fell during the day on Thursday, but turned right back around to show signs of support as we bounced enough to break towards the 1.105080. The British pound initially fell on Thursday but bounced enough to form a bit of a hammer as we continue to see buying pressure appear.
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