A temporary halt to the gains of the US dollar allowed the price of gold to stabilize around the $1791 resistance 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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Since the start of this week's trading, the USD/JPY has been moving within attempts to rebound upwards, reach the 113.78 resistance and settling around 113.50 as of this writing.
Markets are experiencing risk-aversion and caution due to the Omicron variant and its impact on the future of global economic recovery, with the policies of global central banks still in favor of the strength of the US dollar.
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The euro is still suffering from weak investor sentiment and strong demand for safe havens.
Bullish breakout from consolidating triangle pattern now increasingly likely.
The S&P 500 rallied significantly on Tuesday to show extreme strength as we rocketed towards the 4700 level.
The US dollar fell rather hard against the Mexican peso on Tuesday to reach towards the 21 pesos level.
The US dollar initially pulled back just a bit on Tuesday but ended up reversing 30 pips against the Indian rupee to close out the session just below ₹75.50.
The Bitcoin market rallied a bit on Tuesday but gave back the gains to form a bit of an inverted hammer.
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The Ethereum market rallied significantly on Tuesday but gave back the gains to form a less-than-impressive candlestick.
The CAC 40 Index acted like it was shot out of a cannon on Tuesday, gapping higher and then closing at the very top of the range.
The DAX Index shot higher on Tuesday, breaking above the resistance barrier at €15,500, followed by a break of the 50-day EMA at the €16,680 level, and closing at the very top of the massive meltdown candlestick from last week.
The euro fell during the better part of Tuesday but continues to see buyers trying to pick up bits and pieces of value.
The NASDAQ 100 shot straight up in the air on Tuesday as fears of the omicron variant have abated.
The West Texas Intermediate Crude Oil market rallied rather significantly on Tuesday to reach towards the highs of the previous inverted hammer at $73.