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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Global trade uncertainty, a potential Bank of Canada interest rate cut and mixed Japanese economic data has created a volatile trading environment for the CAD/JPY.
This week’s expected interest rate cut by the Reserve Bank of New Zealand is pressuring the New Zealand Dollar to the downside.
Australian economic released this morning showed an improvement in business conditions and confidence which halted the short-term correction in the AUD/USD.
Bitcoin: Bearish below $8,803
USDCAD: Bullish breakout from flag pattern continues
USDCHF Analysis: Less bullish
GBPUSD: Today’s pivotal point likely at 1.2833
EURUSD: Bearish over the medium term
The US dollar will continue to struggle against the Japanese yen going into the next several days, as the 61.8% Fibonacci retracement level has obviously been very resistive.
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The S&P 500 continues to struggle at the 3100 level, as it is a large, round, psychologically significant figure that has been defended by those in the options market, as they will often go into the futures market to manipulate prices away from barriers that they are trying to defend.
The natural gas markets initially tried to rally during the day on Tuesday but found enough resistance near the gap just above, and that shows that there could be a significant amount of selling pressure just above.
The NASDAQ 100 has pulled back a bit during the trading session on Monday but found enough support underneath the turn around and broke higher.
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Sign up to get the latest market updates and free signals directly to your inbox.The Euro continues to go back and forth overall, but Monday was a slightly positive session.
The British pound has rallied a bit during the trading session on Monday, breaking back above the 1.28 handle as traders continue to consolidate the British pound against the US dollar.
The Australian dollar has done nothing during the trading session on Monday, which isn’t much of a surprise as we continue to wait to see what the Americans are the Chinese are going to do.