The S&P 500 had a wild session during the day on Thursday as we went back and forth rather rapidly. The NASDAQ 100 went back and forth during the day as well, and quite frankly this looks very similar to the S&P 500.
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The WTI Crude Oil market initially fell during the course of the session on Thursday, but found enough support just below to turn things back around and form a bit of a hammer. The natural gas markets continued on Thursday to show signs of support, as the market looks like it’s ready to continue trying to go higher.
The EUR/USD pair initially fell during the course of the day on Thursday, testing the 1.08 level below. The GBP/USD pair fell during the course of the session on Thursday, testing the 1.41 level for support.
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The USD/JPY pair had a very volatile session during the day on Thursday, as we continue to bounce around in the recent consolidation area. The AUD/USD pair initially tried to rally on Thursday, but just as we had seen on Wednesday, somewhere above the 0.75 level there is a massive amount of resistance.
Gold rallied nearly 1.16% on Thursday, marking the first gain in three sessions, as a weaker dollar and losses in equity markets spurred demand for safe havens.
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Gold prices fell $8.42 an ounce yesterday, down for the second straight session to $1252.85, as expectations of further easing from the European Central Bank prompted some investors to take profits.
The S&P 500 initially rallied during the course of the day on Wednesday, as the 1980 level offered a bit of support. The NASDAQ 100 and a slightly positive candle during the day on Wednesday, as the 4250 level offered enough support to turn things around again.
The USD/JPY pair initially fell on Wednesday but found enough support near the 112 level to turn things around and form a slightly positive candle. The Australian dollar broke above the 0.75 level for the first time in ages during the session on Wednesday.