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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The USD/SGD battled through a short term bullish trend which was experienced from the 5th of August until the 12th of August, yet bearish momentum has been reestablished the past three trading sessions.
AUD/USD: 0.7200 area looking pivotal
South Africa faces near-and-long-term challenges, as Africa’s most industrialized nation and second-largest measured by GDP, trailing Nigeria, is forced by the Covid-19 pandemic to address core issues plaguing the economy.
India has taken a leadership position in new daily confirmed Covid-19 infections, surpassing both the US and Brazil.
USD/JPY: Support at 106.43 looks pivotal
The US dollar initially tried to rally during the trading session on Friday but gave back the gains at the ¥107 level for the third day in a row, showing real weakness.
The British pound initially rallied during the trading session on Friday but has found a significant amount of resistance at the 1.3150 level again.
The S&P 500 pulled back a bit during the trading session on Friday, and at first looked a little bit limp.
BTC/USD: Resistance above $12k likely to be very strong
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The Euro pulled back a bit during the trading session on Friday but has recovered quite nicely to form a green candlestick.
The NASDAQ 100 has gone sideways again during the day on Friday, as we are near the 11,150 level.
GBP/USD: Potentially strong bullish breakout above 1.3134
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Sign up to get the latest market updates and free signals directly to your inbox.The Australian dollar initially pulled back during the trading session on Friday but continues to find buyers underneath.
Silver markets have fallen a bit during the trading session on Friday, as we have seen a bit of profit-taking, or perhaps just simple consolidation.
The US dollar has been grinding higher against the Brazilian real for some time now but continues to find resistance near the 5.50 level.