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 fell significantly during the course of the session on Friday, which of course makes sense considering that the jobs number was so bad. The AUD/USD pair broke higher during the day, as the US dollar failed against the Aussie. We closed at the very top of the range, and that looks as if we are going to continue to go much higher.
Gold prices settled at $1244.18 an ounce on Friday, making a gain of 2.52% on the week, as disappointing U.S. jobs data dimmed the prospect of an interest rate hike by the Fed in the near term.
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The USD/JPY pair fell during the course of the day on Thursday, testing the $108.50 level. The AUD/USD pair fell during the course of the day on Thursday, but found enough support near the 0.72 level to turn things around and form a hammer.
The EUR/USD pair initially tried to rally during the day on Thursday, but turned right back around at the 1.1250 region to form a negative candle. The GBP/USD pair initially tried to rally during the course of the day on Thursday, but turned right back around just below the 1.45 level to show that there is still significant noise in that area and of course resistance.
The S&P 500 initially fell during the day on Thursday, but turned right back around to form a hammer. Obviously, with the Nonfarm Payroll Numbers coming out during the day today, there will be quite a bit of volatility with the NASDAQ 100.
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Sign up to get the latest market updates and free signals directly to your inbox.The Thursday session was more of the same in the WTI Crude Oil market, as we fell initially and then turned right back around to bounce and form a hammer. The natural gas markets rose again during the day on Thursday, but pulled back in order to form a bit of a shooting star at the $2.40 handle.
Gold prices ended Thursday nearly unchanged as market participants opted to remain on the sidelines ahead of the release of key economic data.
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