Gold ended the week down by 4.64% at $1256.92 an ounce as a recent string of better-than-expected economic data prompted investors to unwind bullish bets.
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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The S&P 500 initially fell during the day on Thursday, but turned around to form a bit of a hammer. The NASDAQ 100 initially fell during the course of the session on Thursday, but found support yet again at the 4840 handle.
The USD/JPY pair rallied during the day on Thursday, showing real strength yet again. The AUD/USD pair fell significantly during the day but did get a little bit of a bounce at the lows during the Thursday session.
The WTI Crude Oil market initially fell during the day on Thursday, but then watched itself above the $50 level. The natural gas markets went back and forth during the day on Thursday, but found enough support right near the $3 level to turn things back around and form a bit of a hammer.
The Euro fell rather hard during the course of the day on Thursday, crashing into the 1.1150 level. The GBP/USD pair broke down during the day on Thursday, testing the 1.26 level.
Gold prices fell for an eighth consecutive day as upbeat U.S. economic data fed expectations that the Federal Reserve could raise interest rates in coming months.
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The EUR/GBP pair initially tried to rally during the day on Wednesday, but as you can see struggled near the 0.855 level.
The EUR/USD pair went back and forth during the course of the day on Wednesday, as we continue to see quite a bit of volatility. The GBP/USD pair initially fell during the course of the session on Wednesday, but then turn right back around to form a bit of a hammer, and because of this it’s likely that the market will trying to bounce towards the 1.2850 level.
The WTI Crude Oil market rose slightly during the course of the day on Wednesday, slamming into the $50 level. The natural gas markets initially fell during the course of the day on Wednesday, but turned right back around to break above the $3 handle.
The US dollar initially fell during the day on Wednesday, but found buyers yet again against the Japanese yen. The Australian dollar went back and forth during the day on Wednesday, hovering around the 0.7625 levels.
The S&P 500 rallied a bit during the course of the day on Wednesday, as we continue to bang around in this general vicinity. The NASDAQ 100 broke higher during the day on Wednesday, using the 4840 level as support.
Get the AUD/JPY Forex signal for October 6, 2016 here.