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.
Forex Daily Forecast, Analysis and Prediction
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Forex Daily Forecast, Analysis and Prediction
Despite claims by Mexican President López Obrador that the country and economy weathered the depth of the Covid-19 induced recession better than many global counterparts, Mexico remains under significant short-term stress.
South Africa likely faced a massive collapse in its second-quarter GDP, with estimates ranging between 20% and 53%.
The Euro has pulled back a bit during the trading session on Monday, but you should keep in mind that it was Labor Day in the United States so therefore there was a serious lack of liquidity during at least half of the session.
The Australian dollar has done very little during the trading session on Monday, but you would expect that as it was Labor Day in the United States.
The silver markets gapped higher to kick off the Monday session but then simply danced around the $27 level.
AUD/USD: Possible higher support at 0.7250
USD/JPY: Total directionless consolidation
The US dollar has rallied a bit during the trading session on Monday, as we were trading in thin volume during the Labor Day holiday in the United States.
BTC/USD: Bearish momentum slowly turning bullish
Gold markets have gone back and forth during the trading session on Monday, which would have had very thin volume due to the fact that it was Labor Day in the United States.
The British pound has gapped lower to kick off the trading session on Monday, but it should be kept in mind that the Americans were not even on board as it was Labor Day in the United States.
The NASDAQ 100, at least the electronic session, showed signs of support yet again near the 11,500 level, as the Americans were away at Labor Day.
The West Texas Intermediate Crude Oil market fell again during the trading session on Monday, but it should be noted that it was Labor Day in the United States and therefore you can only read so much into the price action.
The Bitcoin market fell rather hard during the trading session on Monday as traders came back from the weekend, but you should keep in mind that it was also Labor Day in the United States, so a significant portion of the trading community simply was not there.
The S&P 500 fell initially during the trading session on Monday in thin electronic trading as it was the Labor Day holiday in the United States.