Amid a temporary halt in the gains of the US dollar, gold found the opportunity to achieve gains yesterday, but they did not exceed $1794, instead settling again around $1775 as of this writing.
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/JPY's attempts to recover were still weak yesterday.
Bearish momentum continues to dominate the GBP/USD amid a general risk aversion in global markets as investors balance the strength of the new COVID variant and its impact on the future of the global economic recovery.
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Since the start of this week, the EUR/USD has been trying to recover from its recent collapse, but the rebound attempts did not pass the 1.1383 level.
The euro is holding up quite well in current fearful market environment.
After reaching a high of nearly 21.51000 in early trading yesterday, the USD/MXN has resumed its short-term momentum lower and is testing support.
The USD/ZAR has been choppy as financial institutions try to find equilibrium values, and this has created opportunities for short-term speculators.
The West Texas Intermediate Crude Oil market rallied a bit on Wednesday but gave back all of those gains as Jerome Powell did not walk back his inflation comments.
The NASDAQ 100 initially tried to rally on Wednesday but gave back the gains to crash back down towards the lows of the previous couple of days.
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The FTSE 100 rallied significantly on Wednesday to break above the highs from the Tuesday candlestick.
The DAX initially rallied on Wednesday, but as you can see, we have struggled to get above the €15,500 level.
The euro went back and forth on Wednesday as we continue to respect the previous trend line that was part of the descending channel.
The British pound initially shot higher on Wednesday but gave back the gains rather quickly as Jerome Powell has not changed much of his demeanor.
Bitcoin markets rallied on Wednesday to show signs of consolidation yet again, as we sit just below the crucial and structurally important $60,000 level.
The Australian dollar initially rallied on Wednesday but gave back gains to form an inverted hammer in an area that looks a lot like a base being formed.