The AUD/USD pair tried to rally during the session on Thursday, but as you can see the 0.95 level offered far too much resistance yet again and as a result force this market to form a shooting star.
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The GBP/USD pair went back and forth during the session on Thursday, but remained above the 1.60 level by the end of the day. That being the case I believe that this market will continue to stay above that level, and as a result I'm looking for some type of supportive action in order to go long.
The EUR/GBP pair fell hard during the session on Thursday, breaking down to the 0.8450 level. It was enough support there though in order to keep the market somewhat afloat, but you have to look at this candle and understand that it closed at the very lows of the day.
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The EUR/USD pair fell hard during the session on Thursday, surprising most traders out there in the marketplace. Even though this market has stalled recently, I have to admit that I was caught off guard as well as the market also hard.
The WTI Crude Oil markets did almost nothing during the session on Thursday, but remains true to the idea that the $96 level is going to continue to be supportive.
The XAU/USD pair fell to its lowest level in seven days as demand for the American dollar increased after the weekly unemployment claims and Chicago PMI figures beat forecasts.
The primary move since the last forecast was bearish. Market conditions were not quiet when the price broke through 1.6115, it happened outside the London/NY session, at which time trades in this pair are not recommended.
The USD/JPY pair rose during the session on Wednesday, slicing above the 98.50 level during the day. We are still short of the 99 handle, and that is what I need to see broken to the upside in order to start buying this market again.
The USD/CAD pair fell during the session on Wednesday, but found enough support in order to bounce back and form a hammer.
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The AUD/USD pair tried to rally during the session on Wednesday, but as you can see the 0.95 level offered resistance yet again, forming a shooting star by the time the markets closed.
The EUR/USD pair went back and forth during the session on Wednesday, eventually settling nothing but it did in the end form a slightly bearish candle.
The WTI Crude Oil markets fell during the session on Wednesday, losing quite a bit and testing the $96.50 level. This market of course has been very bearish recently, so I am a bit hesitant to sell down here even though it certainly looks like it wants to fall.
Gold prices (XAU/USD) settled slightly lower after a highly volatile trading session yesterday.
We correctly called the bearish turn at the confluent resistance around the 0.97 level. Although that daily candle did close below 0.9650, it did not close very close to its low, and not within the bottom quarter of its range.
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