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 silver markets initially tried to rally during the trading session on Monday as traders get back to work, but the $18 level has proof of supply, as we have pulled back quite a bit and shown quite a bit of resistance.
Gold markets gapped higher to kick off the week, then pulled back to fill the gap and then rallied again before pulling back yet again.
The West Texas Intermediate Crude Oil market initially gapped lower to kick off the trading session on Monday, but as you can see we continue to reach towards the $41 level above.
After several attempts in which gold prices tried to bounce upward.
The pressure on the single European currency increased with the failure of European leaders to reach a deal to revive the European economy along with the increasing numbers of deadly coronavirus infection with the reopening of the global economy, which brought the US currency momentum to move the EUR/USD to the 1.1168 support.
The US dollar’s strength and the rush to it as a safe haven with the return of investors’ fears from increasing pressure on the global economy from the start of second wave of the Coronavirus outbreak, contributed to new downward pressure on the GBP/USD and the 1.2343 support and closed last week's trading at that level.
After two weeks in a row, during which the Japanese yen managed to achieve strong gains against other major currencies, the price of the USD/JPY currency pair, surged towards the 106.66 support, before it closed last week's trading around the 106.88 level.
AUD/USD: Possible short trade entry signal
The US dollar fell slightly during the trading session on Thursday, as we continue to see a lot of volatility, and at this point, the market is trying to figure out where to go next.
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The NASDAQ 100 was all over the place during the trading session on Friday, as the quadruple witching continues to cause chaos in stock markets overall.
The British pound has fallen down to the 1.2350 level during the trading session on Friday, as the Bank of England has shown itself to be extraordinarily loose with monetary policy and likely to get even worse.
The Euro rallied a bit during the trading session initially on Friday but then turned around to show signs of strength.
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The Australian dollar initially rallied during the trading session on Friday but gave back significant gains in order to form a bit of a shooting star.
The S&P 500 has gone back and forth during the trading session on Friday as the quadruple witching session always causes mass chaos.