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 WTI Crude Oil market had a relatively positive Independence Day, but it should be noted that volume was a bit thin as most trading was electronic and off hours.
The AUD rose on a minor risk-on rally.
The EUR/USD pair is struggling after a series of bad economic data from Europe and the ongoing demand for the US dollar.
The GBP/USD price continued in a consolidation phase as investors waited for a statement by Bank of England’s Andrew Bailey and the release of the country’s financial stability report.
The BTC/USD pair moved sideways as concerns about the health of the cryptocurrency industry continued.
The Turkish lira fell during early trading today, as investors followed early reports issued by the country's statistics institute that showed inflation rose 78.62%.
The trading of the last week of June was harsh for the price of the euro/dollar pair, as it fell to the 1.0365 support level and settled around the 1.0435 level at the beginning of this important week’s trading.
At the end of last week’s trading, the price of the GBP/USD pair fell below the 1.2000 psychological support, with losses to the 1.1975 support level, its lowest in two weeks.
Despite three trading sessions during which the price of the USD/JPY pair was subjected to selling operations, it moved towards the 134.75 support level.
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Amidst the strength of the US dollar, gold futures fell below the $1,800 level, despite rising inflation and growing recession fears.
The price will become more bullish if it gets established above $1.2137.
The USD/JPY tested lows early this morning, but price action has reversed higher again and may be an indicator of things to come in the near term.
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The British pound had a rather rough day on Friday, falling all the way down to the 1.20 level before bouncing 100 pips during the New York session.
The S&P 500 was noisy during the Friday session as traders started to focus on the Independence Day holiday.