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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Singapore announced a massive S$6.4 billion financial aid package in response to Covid-19, placing the country on track to record the biggest budget deficit since 1997.
Preliminary Australian PMI data for February disappointed, showing all three sub-components in recessionary territory below the 50.0 level.
Eurozone economic data has been led to a series of disappointments by Germany, which has enforced the European Central Bank’s monetary policy designed to weaken the Euro.
In the best daily performance of the USD/JPY pair, the pair achieved its gains during yesterday's session, starting from the 109.83 support, reaching the 111.58 resistance, where it is also stable at the time of writing, and is the highest level in more than eight months.
Gold performance continues with a steady upward momentum since the beginning of trading in 2020.
The US currency has the confidence of investors and markets.
The single European currency, the Euro, remains under severe pressure and is losing investor confidence due to the continued disappointing figures for the Eurozone economy led by Germany.
AUD/USD: New 11-year low price
Where do newcomers to stock trading tend to look first? Usually at high profile large-cap and story stocks.
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USD/JPY: Soars to long-term high prices
After a massive advance across the cryptocurrency sector led by industry bellwether Bitcoin, volatility started to expand as price action approached key resistance levels.
Financial markets continue to dismiss the threat to the global economy posed by Covid-19, which continues to spread, cases soar, and the death toll rises.
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GBP/USD: Pivotal point at 1.2870
Japanese trade data released yesterday showed a contraction across the board, confirming the global economy remains under stress.