The S&P 500 initially fell during the day on Wednesday, but turned around to form a bit of a hammer. The NASDAQ 100 been a bit more flats in the S&P 500 but we are essentially telling the same story here.
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The WTI Crude Oil market initially fell on Wednesday but turned right back around to form a bit of a hammer. Looking at this chart, it’s pretty amazing how far we have come in just a couple of days. We broke through the $2.20 level, which of course was bullish and then shot straight up in the air.
The USD/JPY pair fell significantly during the day on Wednesday, as we broke down below the bottom of the shooting star from both Monday and Tuesday. The AUD/USD pair initially tried to rally during the course of the day on Wednesday but slammed into the 0.73 level as it was a significant support and resistance barrier over the longer term.
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The EUR/GBP pair rose rapidly during the course of the day on Wednesday, as we continue to see quite a bit of weakness in the British pound overall.
Gold prices settled slightly lower yesterday after shuffling between gains and losses as investors weighed fresh U.S. economic data.
Get the USD/CAD Forex signal for June 2, 2016 here.
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Get the daily EUR/USD Forex signal for Thursday, June 2, 2016 here.
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Get the NZD/USD Forex signal for June 1, 2016 here.
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The Australian index fell a bit during the course of the day on Monday, but as you can see I have several things marked on this chart.
The Euro initially tried to rally during the day on Tuesday, but found enough resistance to the 1.12 level to turn things around and form a bit of a shooting star. The British pound initially tried to rally during the course of the day on Tuesday, but the 1.47 level has caused enough resistance to turn the market back around.
The WTI Crude Oil market initially tried to rally on Tuesday but found the $50 level be far too resistive, and as a result we turn right back around to form a pretty negative looking shooting star.
The USD/JPY pair initially tried to rally during the course of the session on Tuesday, but turned right back around to form a shooting star just as we did during the Monday session. The AUD/USD pair also formed a shooting star after initially trying to rally, but as you can see there’s quite a bit of resistance above.