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Forex Technical Analysis
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Forex Technical Analysis
After a bearish correction during last week's trading, Gold prices dropped to the $1483 support level.
By the end of last week's trading, the GBP / USD fell from the 1.2581 resistance, a two-and-a-half month high, to the 1.2460 support, and stabilized earlier this week around 1.2485 at the time of writing.
At the beginning of this week, the USD / JPY is expected to be relatively quiet with no drivers.
At the beginning of a new week, the EUR / USD is attempting to maintain a stable move above the 1.1000 psychological level to avoid further downside pressure.
NZDUSD: Major support level at 0.6250
AUDUSD: Bearish, but pivotal point at 0.6753
USDJPY: Bears looking to test key 107.46 pivotal point
Bitcoin: Bearish trend line holds
The NASDAQ 100 initially tried to rally during the day on Friday during “quadruple witching” which is the conclusion of four different types of options, throwing chaos into the markets.
The British pound initially tried to rally during the trading session on Friday but gave back quite a bit of the gains.
The Euro went back and forth during the trading session on Friday as we continue to see a lot of choppiness overall.
The Australian dollar initially tried to rally during the trading session on Friday, but then pulled back from the 0.68 level to fall pretty significantly.
The US dollar has rolled over again against the Japanese yen during the Friday trading session as concerns around the world continue to drive money back towards the Japanese yen.
Gold markets rallied during the trading session on Friday again, as the $1500 level continues offer a significant amount of support.
The West Texas Intermediate Crude Oil market has initially tried to rally during the trading session on Friday, but as we have seen more than once over the last couple of days, the sellers came back in and pushed lower.