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 May 10, 2016 here.
Get the USD/CAD Forex signal for May 10, 2016 here.
Get the USD/CHF Forex signal for May 10, 2016 here.
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Check out our daily Forex signal for the GBP/USD pair for Tuesday, May 10, 2016
Get the EUR/USD Forex signal for May 10, 2016 here.
Gold prices fell 1.65% on Monday to settle at their lowest level since April 29 as the strengthening U.S. dollar continued to put downward pressure on the market.
The EUR/USD pair initially rallied during the day on Monday, but then turned right back around to form a bit of a shooting star. The GBP/USD pair went back and forth during the course of the day on Monday, as the market tested the 1.44 handle.
The WTI Crude Oil market initially tried to rally during the day on Monday but as you can see struggled quite a bit at the $46 level, which has been resistance previously. The natural gas markets gapped higher at the open on Monday, and did very little afterwards.
The USD/JPY pair broke higher during the course of the day on Monday, clearing the top of the hammer from the Friday session, and as a result it looks as if the buyers have stepped into the market and asserted their will. The AUD/USD pair fell again during the day on Monday, as we continue to drive much lower.
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During the day on Monday, the USD/CAD pair gapped higher but found quite a bit of resistance near the 1.30 level as you would expect.
The S&P 500 initially gapped higher at the open on Monday, and then went back and forth. The NASDAQ 100 initially rallied during the course of the session on Monday, but found enough resistance at the 4360 level to turn things back around and form a shooting star.
At the time of writing – just before New York opens on 9th May 2016 – I see a potential short trade set-up on USD/JPY at or around the price of 108.72. Get the trade analysis here.
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