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.
Most Recent
The USD/ARS has proven to be a one way road long term as the Argentine Peso faces sustained losses of value.
GBP/USD: British Pound weaker on 20% GDP contraction
EUR/USD: Euro is stronger than the British Pound
Fitch Ratings downgraded South Africa’s credit rating farther into junk territory.
Brazil endured another weekend of protests, which are common since the outbreak of the Covid-19 pandemic.
Bitcoin markets continue to show signs of support underneath, although the Friday session was relatively quiet.
Silver markets have pulled back slightly during the trading session on Friday, reaching down towards the $17.50 level, an area that begins a supportive level down to the $17.25 level, possibly even as low as $17.00 underneath.
The West Texas Intermediate Crude Oil market has broken down a bit during the trading session on Friday, reaching down towards the $35 level.
The Indonesian Rupiah has accomplished a valid strong trend and seen the USD/IDR be sold consistently since the height of the IDR’s weakness in early April.
Bonuses & Promotions
The gold market initially tried to rally during the trading session on Friday but found the $1750 level to be resistant, which I think extends all the way to the $1775 level.
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US Federal Reserve Chairman Powell delivered a pessimistic outlook on the economic recovery potential.
Global equity markets rallied over the past two months, driven by misplaced economic optimism of retail traders.