The WTI Crude Oil market broke down significantly during the day on Thursday, slicing through an uptrend line that has been important. Natural gas markets tried to rally during the day but struggled at the $3.25 level.
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Despite weakness in the dollar, gold prices fell for the third time in four days and hit the lowest level since March 17.
The EUR/USD pair had a negative session, breaking below the 1.09 level on Wednesday. The GBP/USD pair found the 1.2950 level to be too exhausted to continue going higher.
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The US dollar broke higher during the session on Wednesday, and more importantly breaking above the top of a shooting star from the Tuesday session.
The S&P 500 fell during the day on Wednesday but found enough support just above the 2375 level to turn things around to form a hammer.
WTI Crude Oil markets continued to sell off during the session on Wednesday, testing a massive uptrend line.
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Get the USD/CAD Forex signal for May 4, 2017 here.
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Gold prices dropped $18.65 yesterday as the U.S. dollar rallied after the Federal Reserve signaled it was likely to continue raising short-term interest rates gradually this year.
The EUR/USD is still near its highest levels in 5 months, as it has reached towards the top at 1.0937 and is established there at the time of writing.