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Forex Technical Analysis
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Forex Technical Analysis
The EUR/USD price of got a new impetus in an attempt for an upward correction with gains pushing it to the 1.1144 resistance, the highest level in more than a month.
AUDUSD: More bullish above 0.6862
The British pound initially fell during the trading session on Wednesday, reaching down towards the 1.31 level before turning around and showing signs of strength.
After completing the reaction from the announcement of the US Central Bank about its monetary policy decisions, the gold price awaits important events.
The US dollar initially tried to rally during the trading session on Wednesday but found enough resistance against the South African Rand to rollover again at the 50 day EMA.
Voting will begin today to decide on who will lead Britain at a very sensitive stage, and determine the fate of the pound as well.
The NASDAQ 100 initially pulled back a bit during the trading session on Wednesday but found enough buyers to turn things around and go reaching towards the 8400 level.
The S&P 500 showed signs of strength again during the trading session on Wednesday, although at this point in time it’s very likely that the US/China trade situation will continue to cause a lot of issues.
With the US central bank maintaining its monetary policy as is, the USD/JPY pair did not find the momentum needed to correct higher, but rather the pair retreated to the 108.46 support level before returning to stability around the 108.60 level at the time of writing.
The Australian dollar has broken higher during the trading session on Wednesday, slicing through the short term resistance that has been a major thorn in the side of Australian buyers.
US dollar has been all over the place during the trading session on Wednesday, as the market was awaiting the Federal Reserve statement.
The Euro initially pulled back a bit during the trading session on Wednesday but found enough support underneath to send the market higher.
USDJPY: Ranging between 108.25 and 109.00
Bitcoin: More bearish below $7,131
The West Texas Intermediate Crude Oil market fell during trading on Wednesday, reaching down to the psychologically important $58 level.