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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USD/JPY: Stock rally not strongly reflected here
Since the beginning of this week’s trading, gold prices has been instable by trying to rise to the $1611 an ounce, and then returning to the $1584 support before settling around the $1600 level an ounce.
BTC/USD: Higher support at $8,729?
Pressure continue on the GBP and adversely affecting its performance against most other major currencies.
For seven trading sessions in a row, the EUR/USD price is moving in an upward correction and the last three sessions were the strongest among those gains.
GBP/USD: Pound Remains Weak
The US dollar has gapped lower against the Japanese yen on Monday, only to turn around and rally above the 200 day EMA before pulling back yet again.
The Australian dollar has rallied a bit during the trading session on Monday after initially gapping lower.
Following the latest Bitcoin crash, eliminating hopes that this cryptocurrency possesses similar safe-haven attributes like gold, more downside cannot be ruled out
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The British pound went back and forth during the trading session on Monday as we had initially gapped lower, but the market recovered during the day.
EUR/USD: Euro acting as safe haven
Pressures on the US Federal Reserve are rising to deliver a 50 basis point interest rate cut in response to Covid-19 as Chairman Powell opened the door
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After the Reserve Bank of Australia opted to decrease its benchmark interest rate by 25 basis points to a historic low of 0.50%, the AUD/USD advanced.
Global financial markets have always waited for the reaction of the US central bank to the recent and successive collapse of US stock markets.