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.
The EUR/USD pair initially rallied during the day on Thursday, breaking well above the 1.10 level, but then turned right back around to fall significantly. The British pound initially fell during the day but did bounce a bit in order to form something akin to a hammer.
The US dollar rallied during the course of the day on Thursday, as we continue to consolidate off of the 103 support level. The Australian dollar fell significantly during the course of the day on Thursday, forming a very bearish candle.
Gold fell for the first time in four sessions, giving up a portion of the gains made earlier in the week, as the dollar recovered after the European Central Bank quashed any speculation of tapering its stimulus.
Get the NZD/USD Forex signal for October 20, 2016 here.
Get the AUD/USD Forex signal for October 20, 2016 here.
Get the USD/JPY Forex signal for October 20, 2016 here.
Get the USD/CAD Forex signal for October 20, 2016 here.
Get the USD/CHF Forex signal for October 20, 2016 here.
Get the GBP/USD Forex signal for October 20, 2016 here.
Get the EUR/USD Forex signal for October 20, 2016 here.
The Euro initially rallied against the US dollar during the day on Wednesday again, but just as we had happened on Tuesday, the sellers came back into the marketplace and pushed lower. The British pound had a fairly back-and-forth type of session on Wednesday, but at the end of the day really didn’t do much.
The WTI Crude Oil markets rose during the course of the day on Wednesday, breaking out to a fresh new high at one point. The natural gas markets broke down during the course of the session on Wednesday, as we broke below the bottom of the shooting star from the Tuesday session.
The S&P 500 initially fell during the course of the session on Wednesday, but turned around to form a very strong ring candle. The NASDAQ 100 initially fell during the day on Wednesday, but turned around to form a nice-looking hammer.
The USD/JPY pair fell during the day on Wednesday, as we continue to roll over from the recent surge higher. The Australian dollar initially fell during the day but then shot higher after the softness dissipated.
Gold settled up $6.75 at $1269.12 on Wednesday as a weaker dollar provided some support for the precious metal.
