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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 GBP/USD Forex signal for May 4, 2017 here.
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Gold prices dropped $18.65 yesterday as the U.S. dollar rallied after the Federal Reserve signaled it was likely to continue raising short-term interest rates gradually this year.
The EUR/USD is still near its highest levels in 5 months, as it has reached towards the top at 1.0937 and is established there at the time of writing.
The GBP was negatively affected by yesterday’s transactions despite a strong improvement in the British Manufacturing Sector.
The USD/JPY is trying to hold on to the gains on top of 112.00 before the announcement of important US data today along with the Federals Reserve’s announcement.
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The EUR/USD pair had a positive session on Tuesday, using the 1.09 level as support. The British pound continues to show signs of strength as we are above the 1.29 level again.
The US dollar initially rose against the Japanese yen during the Tuesday session, and even broke above the 112 level. The Australian dollar rallied as well, but then turned around to form a shooting star also.
The S&P 500 had a relatively flat day with a slightly negative close during Tuesday’s trading hours. The NASDAQ 100 reached towards the 5650 level but turned around during the day to form a bit of a shooting star.
The WTI Crude Oil market fell significantly during the session on Tuesday as we continue to see quite a bit of bearish pressure in this market. Natural gas markets initially tried to rally but found enough resistance above the $3.25 level.
Gold prices ended a choppy, two-sided trading session slightly higher yesterday. XAU/USD initially fell to its lowest level in three weeks but reversed losses and closed the day at $1256.74.
The EUR/USD is holding on to its gains above 1.09 with the USD continuing to be under pressure with the Federal Reserve starting the two days meeting on Tuesday.