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.
Most Recent
The gold markets initially pulled back a bit during the trading session on Wednesday but turned around to show signs of life again.
The silver markets have dipped a bit lower during the trading session on Wednesday but found a bit of buying pressure underneath to turn the market around.
The West Texas Intermediate Crude Oil market bounced a bit during the trading session on Wednesday, as it had most certainly gotten a bit oversold.
The Bitcoin market initially dipped below the $10,000 level during the trading session on Wednesday but has recovered enough to show signs of strength again.
The NASDAQ 100 rallied off of the 11,000 level during the trading session on Wednesday, an area that I said needed to hold in order to save the uptrend.
EUR/USD: New higher support at 1.1800
The S&P 500 has bounced from the 50 day EMA on Wednesday, as the market looks to save itself from a massive selloff.
For six trading sessions in a row, the EUR/USD was moving in a descending correction range, pushing it to the 1.1756 support at the time of writing, completing the downward path that started at the end of last week's trading in light of the USD recovery.
We indicated from last week that the opportunity for gold prices to drop to $1908 an ounce is best suited to buy in light of the USD recovery.
Bonuses & Promotions
Increasing concern over the future of Brexit and the recovery of the USD caused a sharp collapse in GBP/USD currency pair, and accordingly, bears in the pair moved towards the 1.2950 support at the time of writing.
The bulls failed to push the USD/JPY higher than the 106.55 resistance, and with the renewed global geopolitical tensions and the investors’ appetite for safe havens, the Japanese yen was more popular.
AUD/USD: Pivotal zone around 0.7250
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Sign up to get the latest market updates and free signals directly to your inbox.The Euro initially tried to rally during the trading session on Tuesday, but as you can see, it fell a bit to break down through a trendline.
The US dollar has initially tried to rally against the Japanese yen but fell rather hard to slice through the ¥106 level before turning right back around.
The Australian dollar has fallen a bit during the trading session on Tuesday and what would have been noted as a “risk-off session” around the world.