Long-term bearish trend established as price hits multi-month lows.
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 sharp gains of the US dollar and Bitcoin contributed to the collapse of gold to the $1687 level last week before closing around $1701, its lowest close since early June 2020.
Investors temporarily abandoned optimism for the UK's progress in vaccinations, which contributed strongly to the sharp gains of the British pound against the other major currencies.
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The Euro has fallen somewhat hard during the trading session on Friday to reach down towards the 1.19 level.
In its best week since November 2020, the USD/JPY moved towards the 108.65 resistance level before closing last week’s trading around 108.37, and close to testing the psychological resistance of 110.00.
The Australian dollar got hammered after the jobs number came out and did start selling off before the jobs in the air even came out.
The EUR/USD pair collapsed to the 1.1893 support level last week, its lowest in nearly four months, before closing the week's trading around 1.1912.
The British pound has initially fallen during the trading session on Friday to reach down towards the uptrend line in the massive channel that we have been in.
The West Texas Intermediate Crude Oil market has rallied significantly yet again during the trading session on Friday to break out above the $65 level.
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Gold markets have gone back and forth during the course of the trading session on Friday, as we are hanging around the $1700 level.
The FTSE 100 initially gapped lower to kick off the trading session and test the bottom of the hammer from the previous session on Friday.
The DAX index initially gapped lower to kick off the trading session on Friday, but as turned around to show signs of strength and managed to break above the 14,000 level.
Bitcoin markets initially pulled back during the trading session on Friday to test the support that we had established a couple of days ago.
The S&P 500 initially fell during the trading session on Monday, but after the stronger-than-anticipated jobs number, the market rallied enough to go looking towards the 50-day EMA and even broke above it.
DOGE/USD experienced a strong move higher late last night and early today as it likely benefited from a positive wave of sentiment being generated in the broad cryptocurrencies