The market started the week on the back foot, testing the 1208/5 support level, but weaker-than-expected economic data out of the United States helped gold recover initial losses and close above the 1221 level.
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.
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Get the USD/JPY Forex signal for March 28, 2016 here.
The EUR/USD pair did very little during the session on Friday, as Christians around the world celebrated Good Friday. This of course meant that there was almost no liquidity. The GBP/USD pair tried to rally during the course of the session on Friday, but pulled back to form a bit of a shooting star.
The S&P 500 fell on Thursday, but bounced off the 2020 handle. The NASDAQ 100 initially fell during the course of the day on Thursday, as the 4370 level offered enough support.
The WTI Crude Oil market tested the $38 level on Thursday, and then bounced enough to form a hammer. The natural gas markets bounced slightly during the course of the session on Thursday, but there is still more than enough bearish pressure overall to keep this market going lower.
The USD/JPY pair initially fell during the course of the day on Friday, but bounced enough to form a hammer. The AUD/USD pair initially rose during the day on Friday, but turned around to form a shooting star.
Get the USD/CAD Forex signal for March 28, 2016 here.
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Get the daily Forex signal for the USD/CHF pair for March 28, 2016 here.
Check out the GBP/USD Forex signal for March 28, 2016 here.
Get the EUR/USD Forex signal for March 28, 2016 here.
Get the Forex forecast for major currency pairs as we end the month of March 2016 here.
Gold ended the holiday-shortened week down by 3.5% at $1217 an ounce as the possibility of an earlier-than expected rise in U.S. interest rates weighed on the market.
Check out our newest trading strategies series with our monthly and weekly forecasts of the currency pairs worth watching using support and resistance for this week of March 28, 2016 here.