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 should continue to go higher given enough time, as we are broken above the top of the shooting star from the previous session on Tuesday.
The Australian dollar has gone back and forth during the trading session on Tuesday as we continue to see a serious lack of clarity when it comes to the trade situation and of course we are facing the extension of trade tariffs on the Chinese starting this Sunday.
Last Friday’s strong NFP report had a limited short-term impact, as the US Dollar is once again under pressure.
The West Texas Intermediate Crude Oil market initially pulled back during the trading session on Tuesday, but then turned around to rally and slam into the $60 level.
Natural gas markets have gapped higher to kick off the trading session on Tuesday as the selloff on Monday was a bit overdone.
GBPUSD: Bearish retracement on narrowing British opinion polls
The gold markets rallied a bit during the trading session on Tuesday but have given back quite a bit of the gains.
Bitcoin markets have drifted a little bit lower during the trading session on Tuesday, showing signs that we are ready to continue to go much lower.
EURUSD: Consolidating below 1.1113
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Following the release of the New Zealand half-year fiscal and economic update, the New Zealand Dollar came under selling pressure.
Consumer confidence decreased in Australia as the holiday shopping season started, but the AUD/SGD was able to recover.
We did not witness any strong movement for the EUR/USD in the beginning of this week’s trading, as the pair moved in a narrow range from yesterday between 1.1053 and 1.1077, before settling around 1.1065 at the time of writing.
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USDJPY: Ranging between 108.25 and 109.00
After the recent collapse gold prices to the $1458 level after the announcement of better-than-expected US jobs numbers by the end of last week, prices have been moving in a narrow, limited and stable range around $1463 at the time of writing, awaiting any developments.