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 British pound initially fell hard during the trading session on Tuesday, breaking down below a rather significant trendline before finding buyers again.
The Australian dollar has rallied quite significantly during the trading session on Tuesday, after the Reserve Bank of Australia decided to keep its rates on hold.
The Euro initially fell during trading on Tuesday but found enough buyers underneath the turn around and form a slightly supportive looking candle.
The NASDAQ 100 has exploded to the upside during the trading session on Tuesday, as we have made yet another all-time high.
The US dollar has rallied again during the trading session on Tuesday, breaking well above the 50 day EMA in what has been a major “risk on” type of situation
The S&P 500 has rallied significantly during the trading session on Tuesday, reaching towards the 3300 level.
Natural gas markets have initially fallen during the trading session on Tuesday but found support at the $1.80 level yet again.
The German DAX futures reached as low as €13,000 over the last couple of days but have recovered quite nicely during trading on Tuesday.
The West Texas Intermediate Crude Oil market initially rallied during the trading session on Tuesday but gave back the gains as it rolled over to show signs of exhaustion again.
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Gold markets fell during the session on Tuesday as more of a “risk off” scenario has overtaken the markets, pushing money out of safe haven assets.
Economic data released out of New Zealand this morning showed a contraction in the unemployment rate mixed with weak hourly earnings for the fourth quarter of 2019.
For two trading sessions in a row, the EUR/USD price attempted to correct higher, but gains did not exceed the 1.1095 resistance, then the correction returned lower, reaching the 1.1034 level in the beginning of this week’s trading.
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Sign up to get the latest market updates and free signals directly to your inbox.I certainly expected that the gains of the British pound following the monetary policy decisions of the Bank of England and the joy of Brexit will not last long, and indeed the price of the GBP/USD pair move based on those factors to the 1.3209 resistance during last Friday's trading session.
The recent and intensified measures by the Chinese government and the Chinese Central Bank to contain the situation and support the Chinese economy from collapsing due to the horrific losses for the spread of Corona virus in the country, especially with the resumption of the Chinese stock markets after a very long holiday.
The USD/JPY price losses stopped at the limits of the 108.30 support and failed to complete the downward correction for two trading sessions,.