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 US dollar fell slightly against the Japanese yen on Friday, but quite frankly that’s a trading session that I would ignore. The AUD/USD pair fell on Friday, as traders will continue to look to the gold markets for guidance.
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The S&P 500 had a quiet session on Friday as one would expect, as traders will have been thinking more about Christmas than putting money in a risky position. The NASDAQ 100 dipped on Friday, but did find enough buying pressure underneath to turn around and form a slightly positive candle.
The WTI Crude Oil market initially fell on Friday, but then found buyers as we got a bit bullish later in the session. Natural gas markets rose on Friday, trying to fill the gap above.
The EUR/USD pair rallied on Friday, but continues to see a lot of resistance at the 1.05 level. The British pound initially fell on Friday, but bounced enough to form a hammer.
Although the markets are still closed due to the Christmas holiday, be prepared for when the markets reopen with our Forex forecast focusing on major currency pairs for the week of December 26, 2016 here.
The EUR tried to rally during the Thursday session, but found far too much in the way resistance at 1.05 to continue going higher. The British pound initially tried to rally on Thursday but fell enough to break below the 1.23 level.
The WTI Crude Oil market went back and forth on Thursday, as we filled the gap from earlier in the week. The natural gas markets went back and forth on Thursday, as we saw a support level at the 3.50 level, and a resistance barrier and of the $3.60 level.
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The Forex market was quiet during the Thursday session, and the USD/JPY pair wasn’t any different. The Australian dollar of course fell during the session on Thursday, after initially trying to rally.
The S&P 500 fell a bit during the day on Thursday, approaching the 2250 region. The NASDAQ 100 fell also, dropping down to the 4900 level.
Get the NZD/USD Forex Signal for December 22, 2016 here.
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Get the USD/JPY Forex Signal for December 21, 2016 here.
Get the USD/CAD Forex Signal for December 22, 2016 here.