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 has been relatively quiet during the trading session on Monday to kick off the week, as we continue to see a lot of ranging action.
The S&P 500 has ended up forming a rather negative candlestick for the trading session on Monday as the week opened up rather soft.
The British pound has broken down a bit during the trading session on Monday, as the 1.25 level continues to be a bit too much for the market.
The German index went back and forth during the trading session on Monday as traders came back to work with very little in the way of news flow
Silver markets have rallied a bit during the trading session on Monday, reaching towards the 50 day EMA as it continues to be a bit of a fulcrum for price.
Gold markets went back and forth during the trading session with a positive tone on Monday, as the $1700 level offers psychological importance.
The West Texas Intermediate Crude Oil market has been very negative to say the least, with the May contract going negative.
The attempts to bounce higher for the USD/JPY pair did not exceed the 108.08 level, and for both sessions.
Gold prices did not celebrate much for its gains, which reached the $1747 resistance, its highest level in nearly eight years, and closed the week's transactions around the $1686 level.
What was notable during last week's trading was a conflict occurred between the return of the US dollar strength.
After the unsuccessful attempt of the EUR/USD pair during last week's trading to move towards the 1.1000 psychological resistance to get the momentum needed to break out of the bearish bog.
AUD/USD: Weakly bullish
USD/JPY: No long-term trend
Some European countries are partially reopening their economies with restrictions in place.
Oil prices tanked to start the new trading week after a report labeled the US oil sector dire. It confirmed that OPEC+ has no control of the market.