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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BTC/USD: Price sitting above strongly supportive area
In early trading this morning the support level of 16.6000 appears to be developing into an intriguing juncture.
The USD/BRL remains on the stronger side of its one-month range for the Brazilian Real and traders may be tempted to continue seeking selling positions.
GBP/USD: British Pound has residual strength despite selloff
Canada reported a surprise 289,600 jobs additions for May, against predictions for 500,000 losses.
While the World Bank predicts a 3.2% GDP contraction for India’s fiscal year ending 2021, Fitch Ratings is looking ahead to a robust 9.5% recovery for 2022.
Yesterday’s press conference by US Federal Reserve Chairman Powell dented misplaced optimism running rampant across the global financial system.
A second Covid-19 infection wave will derail the fragile Australian economy, new research by the Organisation for Economic Co-operation and Development (OECD) revealed.
EUR/USD: Price likely to rise when risk sentiment recovers
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The silver markets rallied a bit during the trading session on Wednesday, breaking above the crucial $18 level again as the US dollar has weakened.
The Bitcoin market continues to rally rather significantly during the trading session on Wednesday to show more strength in a market that quite frankly looks as if it is trying to build up the necessary pressure to break out.
Gold markets have rallied a bit during the trading session again on Wednesday as the Federal Reserve sounds dovish yet again.
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Sign up to get the latest market updates and free signals directly to your inbox.The crude oil markets initially dipped slightly during the trading session on Wednesday, reaching lows of the previous session before turning around and showing life again.
Low water marks of 3.2500 were tested in April as traders sought the relative safety of the JPY, but as the markets resume a more confident nature the Thai Baht has begun to pick up strength against the JPY.
For 4 consecutive sessions, the GBP/USD is trying to maintain recent risk on gains, which pushed it towards the 1.2755 resistance, the highest level in 3 months, but the Brexit file continues to be a pressure factor on any Pound gains.