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.
Forex Daily Forecast, Analysis and Prediction
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Forex Daily Forecast, Analysis and Prediction
The US dollar broke down significantly during the trading session on Tuesday, slicing through the ¥107 level.
The Australian dollar initially pulled back during the trading session on Tuesday but then turned around to reach towards the 0.65 level, an area that should bring in a fresh wave of selling.
The S&P 500 has run into a brick wall on Tuesday, as we initially shot higher but found enough resistance to turn things around and form a bit of a shooting star heading into the close.
The NASDAQ 100 has gone back and forth during the trading session on Tuesday, forming a very ugly candlestick as it looks like we are going to continue to struggle to get above the 9000 handle.
The British pound initially rally during the trading session on Tuesday, breaking above the 1.25 handle.
New Zealand reported better-than-forecast March export data, while imports increased as well.
The West Texas Intermediate Crude Oil market broke down rather significantly during the trading session on Tuesday.
Silver markets have pulled back a bit during the trading session on Tuesday.
Gold markets continue to see buyers underneath, as it has seen selling pressure at the open on Tuesday but have also seen futures traders get long just above the $1700 level.
Bitcoin markets have rallied slightly during the trading session on Tuesday but gave back what little gains they made as we are waiting the Federal Reserve’s announcement.
Australian inflation data for the first quarter showed an increase while the Reserve Bank of Australia (RBA) slashed interest rates to an all-time low of 0.25% in response to the global Covid-19 pandemic.
At the beginning of this week's trading, the Japanese Central Bank cut short the time and quickly announced its monetary policy.
The risk appetite amid the trend of global economies to abandon the policy of economic closure has contributed to the decline in gold prices to the $1710 support, after gains reaching the $1738 resistance during last week's trading, near its highest level in eight years.
Financial markets welcomed the return of British Prime Minister Boris Johnson to his office after a period of treatment for symptoms of the Coronavirus.
At the beginning of this week's trading, the EUR/USD pair got some support to move up.