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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Short Content - Get the weekly Forex forecast for major currency pairs for the week of March 11-16, 2024 here.
Weekly Market Outlook: Crude Up, AUD/USD Breaks Resistance, NASDAQ Rebounds.
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The early hours of Thursday saw a sharp decline in the S&P 500 Index, but it recovered and surged ahead of the New York session.
Early on Thursday during the trading session, the Nasdaq 100 slightly declined, but it has since rebounded from the pivotal 20-day EMA.
The euro did not move much during Thursday's early hours as we remained near the 1.09 level.
Early in Thursday's trading session, the Australian dollar strengthened as we got closer to a significant resistance level.
Early on Thursday, the US dollar dropped significantly versus the Japanese yen, possibly as a result of traders taking note of Friday's nonfarm payroll announcement day.
The continued turbulence in the crude oil markets, in my opinion, is an indication that momentum is building in a market that is running out of time before we begin to break out higher.
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During Thursday's trading session, the silver markets first declined, but they later recovered and began to show signs of life as buyers continued to hunt for value.
The natural gas markets are still exhibiting a lot of erratic behavior right above and around the critical $2.00 level.
As more people chase the so-called "FOMO trade" that gold has become, gold markets have rallied during Thursday's trading session.
Bitcoin Rallies Early in the Session. Are We About to See Trouble?
The USD/TRY pair maintained its gains in early trading on Thursday.
During yesterday's trading session, the GBP/USD pair rose by a third of a percent to reach 1.2744 after the US job quit rate fell.