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.
Most Recent
The Australian dollar went back and forth during the trading session on Friday, initially dipping lower but turning around to form a bit of a hammer which is a slightly bullish sign.
The US dollar has pulled back a bit against the Japanese yen during the trading session on Friday, as we reached the ¥112.30 level.
The Euro has exploded to the upside during the trading session on Friday, as there has been a significant amount of short covering going into the weekend.
The British pound rallied a bit into the weekend, showing signs of resiliency.
The S&P 500 has pulled back a bit during the trading session on Friday, breaking below the bottom of the hammer candlestick that had formed on Thursday.
Gold markets rallied significantly heading into the weekend, as Friday had seen the market test the $1650 level.
While last week’s PMI data out of the Eurozone indicated a rebound, it came of depressed levels.
Fourth-quarter retail sales in New Zealand contracted more than predicted, but January credit card spending showed resilience.
GBP/USD: Ranging from 1.2870 to 1.3000
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EUR/USD: More bearish below 1.0814
With Covid-19 cases spreading outside of China, South Korea and Italy have entered crisis mode, safe-haven demand for risk-averse assets
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Moody’s Investors Service lowered its GDP forecast for South Africa, sparking fears that the March credit review will see the country’s credit rating downgraded to junk.