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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The New Zealand dollar has been volatile over the last couple of weeks, as we have broken down below an uptrend line, and more recently have tried to rally towards the 0.70 level above.
The GBP/JPY pair continues to be very volatile, but over the last couple of weeks we have seen a bit of a pullback.
The British pound continues to find sellers going forward, as we have broken down below the uptrend line that had been so supportive over the last couple of months.
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The WTI Crude Oil market fell during the day on Friday, as we continue to run out of steam. The natural gas markets initially tried to rally and Friday but then turned around to crash through the $3.75 level.
The S&P 500 initially tried to rally during the day on Friday, but turned around to form a negative looking candle. The NASDAQ 100 initially tried to rally during the day on Friday, but then turned around to fall through the 4900 level.
The US dollar rallied against the Japanese yen during the session on Friday, bouncing off of the 116 region. The New Zealand dollar initially fell on Friday, but turned around to form a neutral looking candle.
The EUR/USD pair went back and forth during the day on Friday, as end-of-the-year position squaring took center stage. The British pound rallied on Friday, but remains well below the resistance above, as the previous uptrend line should now offer quite a bit of selling pressure.
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For the first half of the year, the precious rallied from that low to $1375 at the beginning of July as the greenback remained weak on perception that bleak economic growth, along with global issues, would keep the Federal Reserve from raising interest rates four times as it projected.
The EUR/USD pair rallied on Thursday, as traders started to take profits after selling. The British pound initially rallied on Thursday but turned around to form a shooting star-like candle.
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The S&P 500 fell slightly during the session on Thursday, as we continue to see a little bit of softness creep into this market. The NASDAQ 100 fell during the day on Thursday, testing the 4900 level below.
The US dollar fell against the Japanese yen during the Thursday session, as many traders will have taken profits for the end of year reporting. The Austrian dollar rallied on Thursday, as it’s possible that the move was based upon profit-taking as we have seen so many traders short this market.