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 initially tried to rally during the day on Monday but as you can see struggled quite a bit at the $46 level, which has been resistance previously. The natural gas markets gapped higher at the open on Monday, and did very little afterwards.
The USD/JPY pair broke higher during the course of the day on Monday, clearing the top of the hammer from the Friday session, and as a result it looks as if the buyers have stepped into the market and asserted their will. The AUD/USD pair fell again during the day on Monday, as we continue to drive much lower.
During the day on Monday, the USD/CAD pair gapped higher but found quite a bit of resistance near the 1.30 level as you would expect.
The S&P 500 initially gapped higher at the open on Monday, and then went back and forth. The NASDAQ 100 initially rallied during the course of the session on Monday, but found enough resistance at the 4360 level to turn things back around and form a shooting star.
At the time of writing – just before New York opens on 9th May 2016 – I see a potential short trade set-up on USD/JPY at or around the price of 108.72. Get the trade analysis here.
Get the NZD/USD Forex signal for May 9, 2016 here.
Get the AUD/USD Forex signal for May 9, 2016 here.
Get the USD/JPY Forex signal for May 9, 2016 here.
Get the USD/CHF Forex signal for May 9, 2016 here.
Get the USD/CAD Forex signal for May 9, 2016 here.
Get the GBP/USD Forex signal for May 9, 2016 here.
Get the EUR/USD Forex signal for May 9, 2016 here.
The EUR/USD pair initially rallied during the day on Friday, but we found enough resistance just below the 1.15 level to turn the market back around and form a shooting star. The GBP/USD pair initially tried to rally during the day as well, and as a result it looks as if the sellers got involved above the 1.45 level, which has been resistance in the past.
The USD/JPY pair initially fell during the course of the session on Friday, but turned back around and form a bit of a hammer. The AUD/USD pair initially fell during the course of the session on Friday, but turned back around to form a hammer.
The S&P 500 initially fell during the course of the day on Friday, but found enough support just below the 2040 level to form a hammer. The NASDAQ 100 initially fell as well, but found support at the 4280 level to turn things around and form a bit of a hammer.
