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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Find out what's in store for some of the major currency pairs with our Forex forecast for the week of October 24, 2016 here.
Gold ended the week up $14.85 at $1266.71 on speculation that the Federal Reserve will hold off on monetary policy changes until after the U.S. presidential election, and the forward path in interest rates is going to be slower than the market forecasts.
US dollar initially fell during the course of the day on Friday but did find enough support below to turn things around and form a bit of a hammer. The Australian dollar fell again during the day on Friday as we continue to see quite a bit of volatility in this market.
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The WTI Crude Oil market initially fell on Friday, but found enough support at the $50 region to turn things back around and form a hammer. The natural gas markets fell hard during the day on Friday, slicing through the $3 level.
The EUR/USD pair fell during the day on Friday, breaking down below the 1.09 level for the first time in ages. The British pound fell during the course of the day on Friday again, but did bounce enough to form a bit of a hammer.
Initially, the S&P 500 fell during the day on Friday but found support yet again just above the 2120 handle. The NASDAQ 100 fell as well, but just as the S&P 500 did, it also bounced enough to form a hammer.
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The WTI Crude Oil market fell during the course of the day on Thursday, as we continue to go back and forth in a very volatile manner. The natural gas markets fell during the day initially on Thursday but found enough support to turn things back around and form a bit of a hammer.
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The S&P 500 initially fell during the day on Thursday but found enough support to turn things back around and form a hammer. The NASDAQ 100 goes back and forth during the course of the session on Thursday but then in sub turning back around to form a hammer so therefore it looks very bullish.
The EUR/USD pair initially rallied during the day on Thursday, breaking well above the 1.10 level, but then turned right back around to fall significantly. The British pound initially fell during the day but did bounce a bit in order to form something akin to a hammer.
The US dollar rallied during the course of the day on Thursday, as we continue to consolidate off of the 103 support level. The Australian dollar fell significantly during the course of the day on Thursday, forming a very bearish candle.
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Sign up to get the latest market updates and free signals directly to your inbox.Gold fell for the first time in four sessions, giving up a portion of the gains made earlier in the week, as the dollar recovered after the European Central Bank quashed any speculation of tapering its stimulus.
Get the NZD/USD Forex signal for October 20, 2016 here.
Get the AUD/USD Forex signal for October 20, 2016 here.