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 British pound broke down significantly during the trading session on Tuesday but found enough support at the 50 day EMA to turn things around to form a hammer.
The Australian dollar initially fell during the trading session on Tuesday but then turned around again.
The NASDAQ 100 fell initially on Tuesday, as one would think due to the fact that it had been so ugly on Monday.
The US dollar initially rallied during the trading session on Tuesday but gave up some of the gains against the Japanese yen as we continue to see the 107.50 level cause a reaction in this market.
The S&P 500 has pulled back initially during the trading session on Tuesday but found plenty of buyers to shoot this thing straight back up in the air again.
The Euro rallied during the trading session, challenging the 1.14 level yet again.
Gold markets had broken significantly lower during the trading session on Tuesday, but we started to see buyers underneath the $1800 level again, which has caught a lot of attention.
The West Texas Intermediate Crude Oil market initially gapped a bit lower, and then drove down during the Globex session.
The silver markets did gap a bit lower during the open on Tuesday which was a negative sign, and then fell to reach down towards the $19.25 level, for turning around and showing signs of life again.
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Bitcoin markets have gone back and forth during the last couple of days, reaching down towards the 50 day EMA yet again.
Amid investor optimism that European leaders will be able to reach an agreement by the end of this week to pass the urgent stimulus plans to revive the European economy, the EUR/USD pair started this week’s trading on the rise, reaching the 1.1374 resistance after closing last week's trading below the 1.1300 level.
After limited bearish correction attempts by gold prices at the end of the week’s trading, pushing it to $1795 an ounce, prices returned to rebound upward to $1813 an ounce at the beginning of this week’s trading, near the highest level in nine years.
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Sign up to get the latest market updates and free signals directly to your inbox.For three consecutive trading sessions, the GBP/USD price attempt, according to the performance on the daily chart, crossed the 1.2670 resistance to complete the bullish correction path that started at the end of June trading.
After mentioning in the technical analysis that the USD/JPY pair has reached strong oversold areas, it’s recent levels are the best ones for selling.
After testing short term support levels in early trading yesterday, the USD/MXN has reversed as solid bullish momentum has surged.