Get the weekly Forex forecast focusing on major pairs for the week of August 14, 2017 here.
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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Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of August 13, 2017.
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Gold prices rose $9.30 an ounce on Thursday, extending their gains to a third-straight session, as geopolitical risks hit equities and the dollar index fell.
The US dollar fell during the day on Thursday, breaking below the bottom of the hammer from Wednesday and even breaking down below what could have been a very supportive uptrend line.The Australian dollar fell initially during the day but did see a bit of a resurgence as gold has been bought out.
The S&P 500 broke significantly during the day on Thursday, slicing through the 2450 handle.The NASDAQ 100 look horrible during the day as we crashed into the 5800 level.
The WTI Crude Oil market initially tried to rally during the day, but found enough resistance above the $50 level on Thursday to turn around and fall significantly. Natural gas markets exploded to the upside during the day on Thursday, closing just a bit below the vinyl $3 level.
The EUR/USD pair fell initially during the day on Thursday, but found enough support at the 1.17 level to turn around and form a hammer. The British pound fell during the day on Thursday, breaking below the 1.30 level.
Gold prices are higher in U.S. trading Wednesday as investors sought safety from rising tensions between the U.S. and North Korea.
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Get the NZD/USD Forex Signal for August 10, 2017 here.
Get the AUD/USD Forex Signal for August 10, 2017 here.
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.