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 S&P 500 rallied a bit during the trading session on Tuesday but did give back quite a bit of the gains.
EUR/USD: U.S. Dollar is selling off strongly
The Australian dollar has broken through the 0.71 level, which I have been looking at as a major barrier extending all the way from the 0.70 level.
The British pound has broken higher during the trading session on Tuesday, breaking above the 1.2750 level.
The US dollar has initially tried to rally during the trading session on Tuesday but failed again at the 50 day EMA.
The US dollar has broken down significantly against the Brazilian Real, as we have seen the US dollar gets hammered against almost everything.
The Euro had an explosive trading session during the day on Tuesday as we initially dipped.
The EUR/USD pair continued the bullish correction path with the start of this week’s trading until gains reached the 1.1467 resistance, its highest level in four months before settling around the 1.1440 in the beginning of today’s trading.
A new record price for an ounce of gold was recorded at the beginning of trading this week as the yellow metal rose towards the $1821 resistance, the highest level in nine years.
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The weakening of the US currency allowed the GBP/USD pair to achieve gains in the beginning of this week's trading and subsequently moved towards the 1.2665 resistance, where it was stable at the beginning of Tuesday's trading.
For 8 consecutive sessions, the USD/JPY is stable in a limited range amid boring performance according to Forex traders.
Turkey appears to have the Covid-19 pandemic under control, with new daily cases trending lower.
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Mexico lacks proper Covid-19 testing capabilities, with just over 820,000 carried out on a population above 129,000,000.
USD/JPY: Flat between 106.00 and 108.00