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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At the end of last week’s trading, and amid continuous positive results of US economic data, the USD/JPY tried to correct upwards and failed to breach the psychological resistance of 110.00 again.
The pair now awaits stronger incentives to complete the correction to the upside, as the psychological resistance of 1.2000 remains the most important for the bulls at present.
Last week’s trading was abysmal for the GBP/USD pair, which collapsed to the 1.3670 support level before closing the week’s trading by settling around 1.3710, where it also began this week’s trading.
1.3653 looks likely to be a very pivotal point.
The West Texas Intermediate Crude Oil market has rallied over the last couple of days, but Friday was a bit different as we pulled back.
The US dollar rallied a bit during the trading session on Friday but continues to see a lot of resistance near the 50-day EMA against the Canadian dollar.
The market looks as if it is simply trying to work off the froth, perhaps offering an opportunity for the market to continue going higher.
The S&P 500 initially pulled back during the trading session on Friday but then turned around to take out the 4100 level.
The NASDAQ 100 initially fell during the trading session on Friday but then turned around to form a bit of a hammer-shaped candlestick.
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The gold markets initially fell during the trading session on Friday but then turned around to show signs of life at the bottom of the range of the candlestick from Thursday.
The Australian dollar initially fell during the trading session on Friday but then turned around to show signs of life again.
Bitcoin markets have rallied slightly during the trading session on Friday but still struggle with the idea of breaking above the $60,000 level.
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The euro initially fell during the trading session on Friday, but then turned around to form a bit of a hammer.
The AUD/USD price dropped by 0.30% in early trading as top commodity prices dropped and as Australia abandoned its vaccination schedule.