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Forex Technical Analysis
Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of September 20, 2021 here.
Looking back at 2021, the 50-day moving average has acted as a buy-the-dip support level.
Start the week of September 20, 2021 with our Forex forecast focusing on major currency pairs here.
The German index has gone back and forth during the course of the trading session on Thursday as we continue to be attracted to the 50 day EMA.
The Parisian index has rallied a bit during the course of the trading session on Thursday, as we continue to hang around the 50 day EMA.
The West Texas Intermediate Crude Oil market had initially fallen during the trading session on Thursday, in a bit of profit-taking.
The NASDAQ 100 has fallen significantly during the course of the trading session on Thursday but then turned around to show signs of life again.
The S&P 500 has pulled back during the trading session on Thursday, but then turned around to show signs of strength again as we ended up forming a hammer.
The US dollar shot straight up in the air during the trading session on Thursday as retail sales came out much stronger than anticipated.
The Australian dollar has fallen a bit during the course of the trading session on Thursday as the 0.73 level has finally been pierced.
The Bitcoin has rallied ever so slightly to reach towards the $50,000 level but is clearly running out of some of the momentum seen over the last couple of days.
The Euro has broken through major support during the course of the trading session on Thursday as we have broken through the 1.18 level again.
The British pound got absolutely crushed during the trading session on Thursday as the US retail sales came out much stronger than anticipated.
The Bitcoin price is currently trading at $47,908, which is about 12% above the lowest level last week.
The GBP/USD pair tilted upwards in the overnight session as traders continued to reflect on the strong UK inflation and mixed US production numbers.