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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 EUR/USD Forex signal for November 15, 2016 here.
The EUR/USD pair broke down at the open and continued to drop lower, as the 1.08 level has been broken down from here, and I think we’re going to reach down to the 1.05 level below as it is the next major support level.
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The WTI Crude Oil market broke down initially on the open for the Monday session, dipping well below the $43 level. The natural gas markets broke higher during the day on Monday, slamming into the $2.75 level above.
The USD/JPY pair broke higher on Monday, clearing the top of the hammer from the Friday session. The Australian dollar went back and forth during the day on Monday, as we continue to test various levels of support.
The S&P 500 had a slightly negative session on Monday as traders went back to work, but I still believe that there are quite a few reasons the think that this market goes higher. The NASDAQ 100 fell during the day on Monday, testing the bottom of the hammer from the Friday session.
Get the NZD/USD Forex signal for November 14, 2016 here.
Get the AUD/USD Forex signal for November 14, 2016 here.
Get the USD/JPY Forex signal for November 14, 2016 here.
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Gold ended the week down $67.29 at $1225.59, as a stronger U.S. dollar and increased appetite for riskier investments dampened demand for the metal.
The S&P 500 initially fell on Friday but turned around to form a fairly productive looking hammer. The NASDAQ 100 initially fell but then turned right back around to form a hammer on Friday.
The WTI Crude Oil markets fell on Friday, slamming into the $43 level. Natural gas markets have been volatile again during the Friday session, but have done something that was interesting in the sense that they have formed a hammer.
The EUR/USD pair showed quite a bit of volatility on Friday as we were approaching the 1.08 support level. The British pound rose initially on Friday but turned around to form a bit of a shooting star.
The US dollar initially fell against the Japanese yen on Friday but turned around to form a hammer. The Australian dollar fell during the day on Friday, in reaction to several different factors, but quite frankly the gold markets are starting to look very soft.
Get the Forex forecast featuring some of the major currency pairs for the week of November 14, 2016 here.