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 USD/JPY pair initially fell during the day on Wednesday but turned around and ended up forming a fairly bullish candle. The New Zealand dollar initially tried to rally during the day but then turn right back around to form a bit of a shooting star.
The S&P 500 broke higher during the course of the day on Wednesday, as we continue to see quite a bit of bullish pressure in this market. The NASDAQ 100 shot higher during the course of the day on Wednesday as well, as we broke the top of the hammer from the Tuesday session.
Gold prices ended Wednesday's session down 1.2%, or $16.08, to settle at $1315.65 an ounce as strength in global equities diverted interest from the precious metal.
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The Swedish krona has been getting sold off for quite some time now, as it is considered to be a “risky currency.” After all, the US dollar continues to gain strength due to the fact of the safe haven status that it enjoys, and of course the Swedes are very much exposed to the European Union situation.
The EUR/USD pair fell significantly during the course of the day on Tuesday, testing the bottom of the recent consolidation area. The GBP/USD pair fell significantly during the course of the session on Tuesday, breaking down and reaching towards the 1.30 level below.
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The WTI Crude Oil market initially tried to rally during the day on Tuesday, but turn right back around for a bit of a shooting star. Natural gas markets initially tried to rally during the course of the day as we broke above the $2.75 level, but we turn right back around to form a bit of a shooting star.
The USD/JPY pair went back and forth during the course of the day on Tuesday, as we have shown quite a bit of neutrality during the day. The NZD/USD pair fell slightly during the course of the session on Tuesday, testing the 0.70 level.