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 WTI Crude Oil market gapped lower at the open on Monday, but then turned around to fill that gap and then fall significantly as we broke down below the $47 level. The natural gas markets fell rather significantly during the course of the day on Monday as well, crashing into the $3 handle.
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The euro rallied against the US dollar during the day on Friday, reaching above the couple of shooting stars. The GBP/USD pair initially fell during the course of the day on Friday but turned around to form a bit of a hammer.
The WTI Crude Oil market finally broke below the $49 level during the course of the Friday session, and for me that’s a sell signal. Natural gas markets of been a massive of the last several sessions as you can see, but during the Friday session we fell initially only to find support yet again at the 50-day exponential moving average and of course the $3 level.
The S&P 500 went back and forth during the course of the session on Friday, testing the 2120 level for support. The NASDAQ 100 initially rallied during the course of the session on Friday, but turned around to form a bit of a shooting star.
The USD/JPY pair went back and forth during the course of the session on Friday, showing the 105 level to be a bit too resistive. The Australian dollar initially fell during the course of the session on Friday, but turned around to form a hammer.
Gold prices rose for a second consecutive week but ended the month with a loss of 3.2%.
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