The S&P 500 broke out to the upside during the day on Friday, clearing the 2250 handle. The NASDAQ 100 rallied on Friday, testing the 4900 level above.
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The US dollar broke higher on Friday and again, as we have now reached above the 115 handle. The Australian dollar went back and forth during the day on Friday, as we continue to find a bit of resistance just above.
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Gold ended the week down $23.01 at $1159.20 an ounce, under pressure from higher risk appetite and the prospect of higher interest rates.
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The EUR/USD pair initially tried to rally during the Thursday session, but ran into far too much resistance above to continue going higher. The British pound initially rallied on Thursday but found enough resistance near the 1.27 area to find sellers again, which of course was the 50% Fibonacci retracement level from before.
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The S&P 500 rallied during the session on Thursday, testing the 2250 handle. The NASDAQ 100 had a slightly bullish candle form for the Thursday session as it looks all but set to reach towards the 4900 level.
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The WTI Crude Oil market bounced off of the uptrend line that I had discussed yesterday, and the $50 level. Natural gas markets fell initially during the day but found enough support at the $3.50 level to turn things around and show a very bullish candle.
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The US dollar went back and forth against the Japanese yen during the session on Thursday, as we continue to see quite a bit of choppiness. The New Zealand dollar went back and forth on Thursday as we continue to see quite a bit of choppiness, but we are testing the bottom of the uptrend line that should now be resistive.
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Gold prices fell $3.87 on Thursday as global equities strengthened and the dollar rallied.
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Get the NZD/USD Forex signal for December 8, 2016 here.
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Get the AUD/USD Forex signal for December 8, 2016 here.
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Get the USD/JPY Forex signal for December 8, 2016 here.
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Get the USD/CAD Forex signal for December 8, 2016 here.
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