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 EUR/USD pair fell initially during the day on Wednesday, but then shot higher after the FOMC statement. The GBP/USD pair initially fell during the course of the session on Wednesday, but turned around to form a nice-looking hammer.
The WTI Crude Oil market initially tried to rally during the course of the session on Wednesday, but found the $43.00 level to be far too resistive. Natural gas markets rallied during the course of the day on Wednesday, but turned around to form a shooting star.
The USD/JPY pair initially rallied during the course of the day on Wednesday, but turn right back around after the FOMC statement. The New Zealand dollar initially fell during the day on Wednesday, but found enough support at the 0.70 level to form a significant bounce, printing a hammer by the end of the day.
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The S&P 500 initially fell during the course of the day on Wednesday, but bounced significantly after falling in order to form a nice-looking hammer. The NASDAQ 100 initially fell but then shot higher during the day on Wednesday, forming a bit of a hammer.
Gold prices ended Wednesday's session up 1.4%, or $18.33, to settle at $1338.45 an ounce as the U.S. dollar weakened after the Federal Reserve kept rates steady and signaled a cautious approach to future rate increases.
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Sign up to get the latest market updates and free signals directly to your inbox.The Euro rallied initially during the day on Tuesday, but found the area above the 1.10 level to be a bit too resistive. The British pound get a little bit of a bounce during the day, but it isn’t much to write home about.
The WTI Crude market fell during the day, breaking significantly below the $43 level at one point. Natural gas markets went back and forth during the day with a slightly negative twist.
The US dollar fell against the Japanese yen during the trading session on Tuesday, breaking through the 105 support level at one point during the day. I believe that the New Zealand dollar showed quite a bit of strength during the course of the day on Tuesday, but we do get back about half of the gains.