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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Following the release of the Australian employment report for January, the Australian Dollar regained stability with a bullish bias.
The NASDAQ 100 has rallied again during the trading session on Wednesday, as the US stock markets are starting to defy gravity again.
The Euro has rallied a bit during the trading session on Thursday to show signs of life, but quite frankly there are more than enough reason to think that the Euro will continue to fall apart.
The British pound has initially tried to rally during the trading session on Thursday, but then broke down below the 1.30 level to show signs of negativity again.
The Australian dollar went back and forth during the trading session on Wednesday, hanging around just below the 0.67 handle.
EUR/USD: New 2.5-year low price again reached yesterday
The West Texas Intermediate Crude Oil market broke out during the trading session on Wednesday, breaking above the $52.50 level, an area that I thought was very crucial.
Natural gas markets did almost nothing during the trading session on Wednesday, as we had exploded to the upside on Tuesday.
Gold markets broke higher during the trading session on Wednesday, finding the ability to go to a fresh, new high.
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The Bitcoin market has initially tried to rally during the trading session on Wednesday but failed to continue going higher and hang on to the gains.
Despite growing fears again about the bleak future of the second largest economy in the world due to the recent global Corona virus.
It was natural for gold prices to continue to rise, especially with the persistence of global concerns about the continued outbreak of the Chinese Corona pandemic and its negative impact on the future of global economic growth.
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A series of disappointing European economic data results, led by Germany, thwart the hopes of Forex traders in improving the performance of the single European currency - the Euro - after falling to its lowest level in three years.
The US dollar initially fell during the trading session on Tuesday but turned around to show signs of life again as the Americans came on board.