During the day on Wednesday, we went back and forth during the course of the session on Wednesday, as the market should continue to see quite a bit of bearish pressure on the British pound in general.
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The EUR/USD pair fell initially during the course of the session for Wednesday, and as a result this looks as if the market could try to test the bottom of the uptrend line that I have a shot. The GBP/USD pair initially tried to rally during the day on Wednesday, but turned back around to form a bit of an exhaustive candle.
he USD/JPY pair initially fell during the course of the day on Wednesday, but bounced enough to form a bit of a hammer. The Australian dollar rose slightly during the course of the day on Wednesday, as the market tried to test the gap and of course the 0.75 level above there.
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The S&P 500 shot higher during the course of the session on Wednesday, breaking well above the 200 day exponential moving average. The NASDAQ 100 rallied during the day as well, breaking above the important 4300 level.
The WTI Crude Oil markets rallied during the course of the session on Wednesday, testing the $50 level. The natural gas markets rose during the course of the session on Wednesday, but as you can see struggled as we get close to the $3 level.
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The EUR/USD pair did rally during the course of the day on Tuesday, filling the gap that had formed at the beginning of the week. The British pound has really taken it on the chin over the last couple of days, but that would have been expected.
The USD/JPY pair rose during the course of the day on Tuesday, bouncing off of the lows from the previous session. The Australian dollar of course is very sensitive to risk appetite, and there isn’t much of that right now.
The S&P 500 rallied it during the day on Tuesday, bouncing off of the 2000 level and slamming into the 200 day exponential moving average. The 4300 level was the source of real resistance during the day that was so explosive to the upside in this market.