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 Euro exploded to the upside during the session on Tuesday as people continue to believe that the Federal Reserve will not be able to raise interest rates. The British pound rose during the session as well, breaking the top of the shooting star from the previous Monday session.
The WTI Crude Oil market went back and forth during the course of the day on Tuesday, as we continue to see quite a bit of volatility. The natural gas markets broke down during the day on Tuesday, breaking the bottom of the hammer from the Monday session.
The S&P 500 initially fell during the course of the day on Tuesday, but then bounced enough to form a bit of a hammer. Breaking above the top of the hammer for the session on Monday during the Tuesday session was a big deal, and we are clearly well above the 4800 level.
Gold prices ended Tuesday's session up $23.74, extending gains to a fourth straight session, as weak economic data reinforced market expectations that the U.S. Federal Reserve will push off a rate increase until December.
Get the NZD/USD Forex signal for September 6, 2016 here.
Get the AUD/USD Forex signal for September 6, 2016 here.
Get the USD/JPY Forex signal for September 6, 2016 here.
Get the USD/CAD Forex signal for September 6, 2016 here.
Get the USD/CHF Forex signal for September 6, 2016 here.
Get the GBP/USD Forex signal for September 6, 2016 here.
Get the EUR/USD Forex signal for September 6, 2016 here.
The EUR/USD pair rose a bit during the course of the day initially on Monday, but as you can see we turn right back around to form of the shooting star. The British pound of course tried to rally during the day as well but turned right back around to form a shooting star.
The WTI Crude Oil market rallied during the course of the day on Monday, breaking well above the $46 level. The NASDAQ 100 gapped lower but as I mentioned previously, it was Labor Day in the United States so quite frankly I don’t really worry about it.
Obviously, the S&P 500 didn’t do anything during the day on Monday as Americans and Canadians step away for the Labor Day holiday. The NASDAQ 100 fell initially during the course of the day on Friday, and obviously nothing happened on Monday due to the Labor Day holiday.
The US dollar fell against the Japanese yen during the session on Monday, but one thing you have to keep in mind is that the volume simply wasn’t there. The Australian dollar rally as well, but you can also see that we failed to hang onto most of the gains.
