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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The Euro rallied a bit during the trading session on Friday but gave back quite a bit of the gains in order to form a bit of a shooting star.
The Australian dollar has rallied a bit during the trading session on Friday but gave back the gains at the very highs that we had just made.
The gold markets initially tried to rally during the trading session on Friday but then pulled back from the triangle that I have drawn on the chart
The West Texas Intermediate Crude Oil market rallied a bit during the day on Friday after an exceedingly difficult jobs number in the United States.
Pressure on the South African government is rising to end the nationwide lockdown. Business groups ignore health risks and urge resumption of activities,
Mervyn King, the Bank of England Governor during the 2008 financial crisis, warns that overconfidence in a V-shaped recovery is not warranted.
Singapore notes that the gradual reopening if its economy will be impacted by virus case numbers, testing and contact tracing, and the global condition regarding the Covid-19
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Retail traders have pushed equity markets off of the March low, but trading volume remains thin, implying institutional capital is in a holding pattern on the sideline.
Switzerland reported an increase in its unemployment rate to 3.3% for April, which rose to 3.4% at the beginning of May.
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Australia and New Zealand are partially easing their lockdown measures, with new Covid-19 infection rates well-below their counterparts in the developed world.
The British pound has been all over the place during the Thursday session, as the Bank of England chose not to do anything during this announcement cycle.