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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Get the USD/JPY Forex signal for October 20, 2016 here.
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Get the GBP/USD Forex signal for October 20, 2016 here.
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The Euro initially rallied against the US dollar during the day on Wednesday again, but just as we had happened on Tuesday, the sellers came back into the marketplace and pushed lower. The British pound had a fairly back-and-forth type of session on Wednesday, but at the end of the day really didn’t do much.
The WTI Crude Oil markets rose during the course of the day on Wednesday, breaking out to a fresh new high at one point. The natural gas markets broke down during the course of the session on Wednesday, as we broke below the bottom of the shooting star from the Tuesday session.
The S&P 500 initially fell during the course of the session on Wednesday, but turned around to form a very strong ring candle. The NASDAQ 100 initially fell during the day on Wednesday, but turned around to form a nice-looking hammer.
The USD/JPY pair fell during the day on Wednesday, as we continue to roll over from the recent surge higher. The Australian dollar initially fell during the day but then shot higher after the softness dissipated.
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Gold settled up $6.75 at $1269.12 on Wednesday as a weaker dollar provided some support for the precious metal.
Get the NZD/USD Forex Signal for October 19, 2016 here.
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The Euro initially tried to rally during the day on Tuesday, but turned right back around to fall below the 1.10 level again. The GBP/USD pair rose during the course of the session on Tuesday, as we are testing the 1.23 level again.
The US dollar went back and forth during the course of the session on Tuesday against the Japanese yen, essentially settling nothing. The Australian dollar initially tried to rally during the course of the session on Tuesday, testing the 0.77 handle.