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.
The US dollar fell against the Japanese yen initially on Friday, but has seen a bit of support just below the 112 level. The Australian dollar has tried to rally on Friday, but gave back quite a bit of the gains towards the end of the day.
Gold prices settled at $1296.90 an ounce, falling nearly 1.7% over the course of the week, as a stronger dollar and climbing stocks dampened demand for gold.
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Gold prices ended Thursday’s session down $10.14 an ounce as a surprisingly positive assessment of the U.S. economy from the Federal Reserve continued to weigh on the market.
The EUR/USD pair rallied a bit during the day on Thursday, using the uptrend line as support.
The US dollar rallied a bit during the day on Thursday, breaking above the 112 level.
The WTI Crude Oil market fell initially during the session on Thursday, but found enough support at the $50 level to turn around to form a nice-looking hammer.
The S&P 500 fell during the session on Thursday, testing the 2500 level.
Gold prices dropped $10.01 on Wednesday as the prospect of a December rate hike by the Federal Reserve gave a lift to the U.S. dollar and weighed on the metal.
The US dollar initially fell against the Japanese yen, but after somewhat hawkish comments coming out of the Federal Reserve, we broke above the 112 level.
The S&P 500 initially fell, turning around to form a hammer. The hammer sits on top of the 2500 level now, and that is a very bullish sign.
The EUR/USD pair initially tried to rally during the day on Wednesday, but then found the area above the 1.20 level to be resistive.
The WTI Crude Oil market gapped higher at the open on Wednesday, clearing the $50 level. We went as high as the $51 level but found some resistance.
