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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Check out the Forex signal for the USD/CHF pair for May 23, 2016 here.
Get the GBP/USD Forex signal for May 23, 2016 here.
Get the EUR/USD Forex signal for May 23, 2016 here.
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The EUR/USD pair tried to rally during the day on Friday, but struggled a little bit to hang onto the gains for the day. The GBP/USD pair broke down during the day on Friday, testing the 1.45 handle.
The USD/JPY pair initially tried to rally during the day on Friday but turned right back around above the 110 level. The AUD/USD pair went back and forth during the course of the session on Friday, showing that there is a bit of resilience, as we broke above the top of the hammer, but there is a significant amount of resistance just above in this market.
The WTI Crude Oil market initially fell during the course of the day on Friday but turned back around to form a hammer. Natural gas markets rose slightly during the course of the day on Friday, breaking the top of the hammer that formed on Thursday at the psychologically significant $2.00 level.
The S&P 500 rallied during the session on Friday as we broke above the top of the hammer from the Thursday trading session. The NASDAQ 100 rallied as well on Friday, breaking above the top of the hammer that had formed on Thursday.
Gold prices ended the week down nearly 1.45% to settle at $1252.62 an ounce, as worries that the Federal Reserve is set to raise U.S. interest rates next month prompted investors to step back from their bullish bets on the precious metal.
Get our trading strategies series with our monthly and weekly forecasts of the currency pairs worth watching using support and resistance for this week of May 23, 2016 here.
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Check out the Forex forecast for major currency pairs for the week of May 23, 2016 here.
Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of May 23, 2016.
The USD/JPY pair fell slightly during the course of the day on Thursday, as the 110 level has offered a bit of resistance as one would expect. The Australian dollar fell a bit during the course of the session on Thursday, but bounced off of support below to turn things around and form a hammer.
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Gold prices extended losses on Thursday as a strong U.S. dollar abated investor appetite for the precious metal.
Get the NZD/USD Forex signal for May 19, 2016 here.