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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USD/JPY: Too much support below 110.00 for bears to break down
BTC/USD: Supported at $8,500
With Covid-19 crippling the global supply chain, Canada is faced with the impact of rail blockades staged by indigenous and anti-pipeline activists.
Before the outbreak of the deadly Covid-19, the global economy was amid a slowdown, fueled by structural issues.
New Zealand reported a smaller than expected decrease in exports for January, resulting in a narrower trade deficit.
Following UK Prime Minister Johnson’s landslide electoral victory, clarity for businesses allowed February to post the strongest increase in activity in ten months.
GBP/USD: Bearish below 1.2870
EUR/USD: Euro acting as safe haven?
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USD/JPY gains evaporated quickly and the pair retreated to the 109.88 support during yesterday's session before settling around the 110.37 resistance at the time of writing the analysis.
Profit-taking sales were widely expected for a while, but with the rapid movement of gold prices to $1689 an ounce.
Shy gains amid stronger pressure on the Pound pushed the GBP/USD pair towards the 1.3017 resistance during yesterday's trading before settling around 1.2995 at the time of writing.
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Bearish momentum is on the rise after the USD/CAD sustained a breakdown below its resistance zone.
The Euro has rallied quite nicely during the trading session on Tuesday again, but is starting to approach a major resistance barrier in the form of the 1.09 level.