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 WTI Crude Oil market rose rather drastically during the day on Tuesday, breaking well above the $32 level. The natural gas markets fell a bit during the course of the session on Wednesday, testing the $2.00 level.
The USD/JPY pair broke down significantly during the course of the day on Wednesday, slicing through the 118.50 level. The AUD/USD pair launched itself in a very violent fashion during the day on Wednesday, testing the bottom of a previous uptrend line that should now be fairly resistive.
The EUR/USD pair broke higher during the course of the session on Wednesday, finally clearing the 1.1050 level which has been pretty significant resistance in the recent consolidation area. The GBP/USD pair also broke out during the course the day on Tuesday, and it looks as if the market is ready to continue going much higher.
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The S&P 500 initially fell during the course of the session on Wednesday, testing the 1880 region. The NASDAQ 100 fell during the course of the session on Wednesday, testing the 4100 level.
Gold rallied to its highest in nearly 14 weeks on Wednesday as falling equity markets and weakness in the U.S. dollar underpinned the precious metal.
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The S&P 500 fell rather significantly during the course of the session on Tuesday, testing the 1900 level for support. We did very much the same thing in the NASDAQ 100, and it appears that as we stopped near the 4200 level.
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The WTI market fell again during the session on Tuesday, as we broke below the $30 level. The natural gas markets fell drastically as well, slicing through the $2 level.
The EUR/USD pair went back and forth during the course of the session on Tuesday, and as a result it looks as if the market is going to struggle to go a little bit higher here. The GBP/USD pair had a volatile session as well, and as a result we ended up forming a hammer.
The USD/JPY pair initially tried to rally during the day on Tuesday but turned back around to form a fairly negative candle as we sold off significantly. The AUD/USD pair fell significantly during the course of the day on Tuesday, but we believe that the 0.70 level below will more than likely be supportive.
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