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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Bitcoin: Wide bearish price channel persists
Over the weekend, the cryptocurrency market was faced with record low volume for 2019, led once again by Bitcoin which continues to pressure the entire sector to the downside.
As the risk-on mood is temporarily decreasing demand for safe-haven assets like gold and the Swiss Franc, more upside is expected in the CAD/CHF after the breakout
Selling pressure on the EUR/NZD has eased as the bullish impact of the surprise Reserve Bank of New Zealand’s decision to keep interest rates unchanged at 1.00% is fading.
Despite numerous attempts by officials to show markets that the US and China are in the final process of finalizing their phase one trade truce, fundamental differences remain
USDCAD: Weakly bearish below 1.3212
USDCHF Analysis: Today’s pivotal point at 0.9915
GBPUSD: Bullish above 1.2897
EURUSD: Weakly bullish above 1.1056
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The West Texas Intermediate Crude Oil market initially dipped on Friday but found enough buyers underneath yet again to turn around and rally.
The S&P 500 has rallied significantly during the trading session on Friday, breaking cleanly above the 3100 level.
Natural gas markets have been all over the place during the trading session on Friday, initially gapping lower by just a bit and then drifting down to test the $2.60 level.
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Gold markets have pulled back just a bit during the trading session on Friday, as we continue to bounce back and forth.
The US dollar fell again during the day on Friday, as we continue to grind lower against the South African Rand.