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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Gold markets broke higher during the trading session on Wednesday, finding the ability to go to a fresh, new high.
The Bitcoin market has initially tried to rally during the trading session on Wednesday but failed to continue going higher and hang on to the gains.
Despite growing fears again about the bleak future of the second largest economy in the world due to the recent global Corona virus.
It was natural for gold prices to continue to rise, especially with the persistence of global concerns about the continued outbreak of the Chinese Corona pandemic and its negative impact on the future of global economic growth.
Despite the positive British job numbers, the benefit for the GBP/USD pair was limited, as the pair only rose to the 1.3048 level before falling back to the 1.2995 level, with the continued strength of the US dollar.
A series of disappointing European economic data results, led by Germany, thwart the hopes of Forex traders in improving the performance of the single European currency - the Euro - after falling to its lowest level in three years.
The US dollar initially fell during the trading session on Tuesday but turned around to show signs of life again as the Americans came on board.
The S&P 500 has pulled back a bit during the trading session on Thursday but did see some buyers come back in later in the day. That is a good sign as a lot of institutional players will place their positions late in the session.
The NASDAQ 100 has been all over the place during trading on Tuesday, but the one thing that it continues to show is that people are willing to jump in and take advantage of value.
Bonuses & Promotions
AUD/USD: 0.6706 remains a pivotal point
USD/JPY: Close to 9-month high price at 110.28
The Euro has broken down significantly during the trading session on Tuesday, slicing through the 1.08 level during the day.
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The British pound went back and forth during the trading session on Thursday, as the market try to reach towards the 50 day EMA during the day, but then broke down to reach towards 1.30 level.
The Australian dollar broke down significantly during the trading session on Tuesday, slicing through the 0.67 level yet again.