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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Gold prices settled at $1208.33 an ounce, rising 0.85% over the course of the week, as a weaker US dollar and concerns about Britain's exit from the EU helped provide a lift to the precious metal.
The WTI Crude Oil market rallied during the day on Friday, as we gapped higher at the open. Natural gas markets tried to rally on Friday, but found the area above to be a bit too resistive.
The EUR/USD pair initially fell during the session on Friday, but found enough support at the 50-day exponential moving average to turn things around to form a hammer. The GBP/USD pair initially fell on Friday, but found enough buyers near the 1.2250 level again to turn the market around for a hammer.
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The USD/JPY pair tried to rally during the session on Friday, but just as we saw on Thursday, sellers came in above the 115 handle. The AUD/USD pair went back and forth during the session on Friday, as we continue to find buyers just above the 0.75 handle.
The S&P 500 initially tried to rally on Friday, but continues to find the 2275 level to be overly exhaustive. The NASDAQ 100 trying to rally on Friday but after making a fresh, new high we ended up forming an exhaustive candle.
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Gold rose slightly on Thursday as uncertainty regarding the economic policies of new U.S. President-elect Donald Trump offset pressure from strength in the dollar.
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The S&P 500 fell slightly during the course of the session on Thursday, as the 2275 level continues to be resistive. The NASDAQ 100 initially rallied during the day on Thursday, but gave back quite a bit of the gains.
The EUR/USD pair went back and forth on Thursday as we continue to see quite a bit of volatility around the 50-day exponential moving average. The British pound rallied slightly during the session on Thursday, as we try to figure out what the next move is.
The WTI Crude Oil market initially tried to rally on Thursday but after a bearish inventory number coming out of the United States, the market rolled over and ended up forming a shooting star yet again.
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Get the NZD/USD Forex signal for January 19, 2017 here.
Get the AUD/USD Forex Signal for January 19, 2017 here.