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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Upside potential in the NZD/JPY is exhausted, and this currency pair is now exposed to a corrective phase.
Dovish minutes released by the Reserve Bank of Australia highlighted concerns over weak wage growth and inflation targets.
Bitcoin: Bearish but pivotal point at $6,786
GBPUSD: Continuing to sell off from post-election high
EURUSD: Consolidation between 1.1110 and 1.1198
AUDUSD: Weakly bullish above 0.6862
USDJPY: Bullish above 109.50
In the beginning of this week’s trading, the Euro will react to the announcement of the purchasing managers' indicators for the industrial and services sectors, which are the most affected by the length of the global trade war.
The trade agreement between the two largest economies in the world and the end of the British elections in favor of the Conservative victory.
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The gold markets rallied during the trading session after the Americans and the Chinese agreed in principle to the idea of a “phase 1 deal” but left a lot of confusion as to exactly what was agreed to.
The West Texas Intermediate Crude Oil market has rallied significantly during the trading session on Friday, reaching above the $60 level before pulling back just a bit.
Natural gas markets fell initially during the trading session on Friday, reaching down towards the $2.25 level before bouncing significantly.
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Sign up to get the latest market updates and free signals directly to your inbox.At the end of last week’s trading, and with the announcement of a major victory for the Conservatives in the general elections that took place in the United Kingdom last Thursday, the best opportunity was for an upward price gap for the GBP/USD to start from 1.3160 support to reach the 1.3514 resistance.
The S&P 500 stalled a bit during the trading session on Friday, as we continue to see a lot of back and forth in the stock markets.
Investor confidence increased after the announcement of a trade agreement between the United States and China, which will avoid imposing more American tariffs on Chinese imports, which was scheduled for December 15.