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 West Texas Intermediate Crude Oil market initially fell during the trading session on Wednesday but turned around as inventory numbers were a bit better than anticipated.
Despite the gains of other major currencies against the US dollar during yesterday's trading session, the price of the USD/JPY pair is still moving inside a bullish channel.
The strength of the US dollar has stopped, and confidence has returned, even if temporarily, to the global financial markets.
As was the performance with other major currencies, the pound succeeded in making some gains, taking advantage of the weakening dollar.
In light of a temporary pause in the recent US dollar gains, the EUR/USD pair got a momentum towards the 1.0888 resistance.
AUD/USD: Pivotal point at 0.6094
USD/JPY: Yen getting weaker over time
BTC/USD: Strong resistance likely at $7,228
The US dollar initially fell during the trading session on Tuesday, but yet again had seen buyers near the ¥110 level to turn things around and form a massive hammer.
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The Euro rallied a bit during the trading session on Tuesday but gave back a significant amount of the gains in order to form a bit of an inverted hammer.
The British pound started out the day just above the 1.15 level but found enough buying to turn things around and reach towards the 1.17 level,
As traders digest the idea of a potential stimulus package, stock markets in the United States have skyrocketed.
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GBP/USD: Significant recovery in price
The S&P 500 has formed a very bullish candlestick during the trading session on Tuesday, breaking above the top of the candlestick from the previous session.