Gold markets experienced fluctuating movements during Wednesday's trading session, reflecting a period of uncertainty as investors await the Federal Reserve's impending announcement.
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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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Silver experienced a significant downturn during Wednesday's trading session, continuing its recent trend of negative performance.
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The S&P 500 experienced a slight rally during Wednesday's trading session, suggesting a readiness for continued upward movement.
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The USD/JPY showed initial strength on Wednesday, with market participants closely monitoring the Federal Reserve's forthcoming statement.
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The NASDAQ 100 initially rallied during the trading session on Wednesday, as we are waiting for the Federal Reserve announcement.
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The GBP/CHF has been all over the place during the trading session on Wednesday, as we are hanging around the 1.10 level, and of course waiting for a couple of major announcements coming out of both of those countries.
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The Wednesday trading session witnessed Bitcoin experiencing a noticeable decline, settling just above the critical $40,000 level.
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The AUD/USD experienced a notable decline during Wednesday's trading session, gravitating towards the 50-Day Exponential Moving Average, coinciding with the key 0.65 level.
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The GBP/USD exchange rate drifted downwards after the weak UK GDP data and the Federal Reserve decision.
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The EUR/USD pair drifted upwards after the relatively dovish Federal Reserve decision.
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Bitcoin price bounced back after the encouraging Federal Reserve decision.
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The AUD/USD pair surged as signs of Federal Reserve and Reserve Bank of Australia (RBA) divergence emerged.
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Recently, the US dollar rose in response to the release of US inflation data for November, which showed an increase of 0.1% on a monthly basis in the main US consumer price index (CPI).
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Since the start of trading this week, the price of the USD/JPY has been trying to rebound higher. Moreover, its gains have not exceeded the resistance level of 146.58 before stabilizing around 145.50 at the time of writing the analysis.
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Technically, the price of gold (XAU/USD) attempted to rebound towards the psychological resistance level of $2000 per ounce once again, but the strength of the US dollar prevented it, causing the price of gold to stabilize downward around the $1978 level per ounce at the time of writing.
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