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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Now that we are starting the month of March, we will start to see selling pressure in the beginning of the month, followed by a bit of a bounce for the EUR/USD pair. Get the March 2016 forecast here.
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The WTI Crude Oil market broke above the $34 level during the course of the session on Friday, and then turned back around to form a massive shooting star. Natural gas markets went back and forth during the day on Friday, but turned back around form a bit of a hammer.
The S&P 500 initially rallied during the session on Friday, testing the 1970 level during the session, but turned back around to form a massive shooting star. The NASDAQ 100 rose initially during the course of the session on Friday, but found enough resistance of the 4300 level to turn things back around and form a bit of a shooting star.
The USD/JPY pair rose during the course of the day on Friday, as the market reached towards the 114 level. The AUD/USD pair fell rather significantly on Friday, completely wiping out the gains from the previous week.
The EUR/USD pair fell rather significantly during the course of the session on Friday, breaking to the 1.09 level at one point. The GBP/USD pair initially tried to rally on Friday, but the area above the 1.40 level was a bit too resistive to let the market continue going higher.
Stay up to date for the trading week ahead with our Forex forecast for major currency pairs for the week of February 29, 2016.
Check out our newest trading strategies series with our monthly and weekly forecasts of the currency pairs worth watching using support and resistance for this week of February 29, 2016 here.
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Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of February 29, 2016.
Gold ended the week down by 0.24% at $1222.30 an ounce but it rose nearly 9.5% in February.
The S&P 500 initially fell on Thursday, but as you can see turned back around and form a rather bullish candle. The Nasdaq 100 chart looks exactly the same as the S&P 500, as we have broken above the 4200 level.
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During the day on Thursday, the EUR/USD pair fell a bit during the course of the day, but found enough support to turn things back around and form a bit of a hammer. The GBP/USD pair went back and forth during the day on Thursday as well, as we continue to hover just below the 1.40 level.
The WTI Crude Oil market initially fell during the day on Thursday, but found enough support near the $31 level to turn things back around. The natural gas markets initially tried to rally during the course of the day on Thursday, but turned back around and fell well below the $1.80 level.