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 US dollar fell slightly during the trading session on Wednesday but continues to levitate against the Japanese yen.
The GBP/USD initially rallied on Wednesday but gave back the gains rather quickly as it looks like we are threatening the 1.16 level now.
The S&P 500 initially tried to rally during the trading session on Wednesday but gave back gains as it continues to look like the market is ready to go much lower.
The NASDAQ 100 has initially gapped higher to kick off the trading session on Wednesday to show signs of life.
The AUD/USD initially tried to rally during the trading session on Wednesday but gave a gain rather quickly as we continue to see a lot of negativity.
The USD/JPY is trading above the 139.000 level as of this writing.
The GBP/USD continued its bearish trend as the US dollar strength continued and as concerns about the upcoming steep recession in the UK.
The EUR/USD price tilted upwards after the latest European consumer inflation data.
The BTC/USD continued consolidating on Wednesday morning as investors waited for the next catalyst and as the US dollar rose.
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My previous signal last Monday was not triggered, as there was no bearish price action the first time the price reached the resistance level which I had identified at 0.6884 that day.
The S&P 500 has previously bounced quite nicely, but it’s obvious that the last couple of weeks of August has seen quite a bit of selling pressure.
The NASDAQ 100 has fallen quite significantly from the 50 Week EMA near the 13,500 level.
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The EUR/USD has been pummeled for the last several months, and the month of August has seen a run down to the parity level again.
The British pound has been shellacked during the month of August, and I suspect that we are getting ready to have a short-term bounce.