The US dollar initially fell against the Japanese yen as the S&P 500 got hammered.
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 S&P 500 fell rather hard during the trading session on Thursday as we continue to see a lot of risk aversion in the markets.
The WTI Crude Oil market fell a bit during the trading session on Thursday as we got a bit of a “risk off” move to kick off the session, but we did get a bit of a reprieve, bouncing from the 50 day EMA.
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Gold markets rallied initially during the trading session on Thursday but continue to show signs of exhaustion near the $1290 level.
On Thursday, markets and investors in FX market will be cautiously focused on the reaction from the comments of Federal Reserve Governor Jerome Powell and the results of US data on jobless claims, PPI and trade balance.
For four straight trading sessions, the GBP/JPY is moving down to the 142.21 support level at the time of writing the analysis, the lowest level for this pair for almost 3 months.
The future bullishness of the USD/JPY depends on the pair to hold above 110.00 resistance.
The AUD/USD is trying to keep its stability around and above the psychological support level at 0.7000 to avoid further downward pressure.
The New Zealand dollar has fallen nearly 1.0% since the start of trading this week.
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The USD / CAD path is still bullish, and despite the rise in crude oil prices supporting the CAD, investors' flight from risk appetite has stopped the Canadian market from achieving strong gains.
According to the technical indicators of the EUR / USD on the daily chart, the price reached stable saturation areas below the 1.1200 support level.
On Thursday, May 9, 2019, the markets will be interested in announcing the economic calendar data, which usually results in changes in price movements.
The Euro initially tried to rally during trading on Wednesday, breaking above the 1.12 level at one point.
The US dollar initially pulled back against the Mexican peso during the trading session on Wednesday but has found enough support at the 19 pesos level to turn around and rally a bit.
The WTI Crude Oil market rallied a bit during the trading session on Wednesday, as we got a better than anticipated drawl down of US inventories.