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.
USD/CAD rallied as broader risk-off flows outweighed oil strength, keeping the pair in its familiar 1.35 to 1.3750 consolidation range.
GBP/USD remains trapped in a volatile 1.3250–1.35 range, with downside pressure building below the 200-day EMA but no decisive breakdown yet.
The volatility that crypto is known for has been in full force in March, largely due to factors outside of the influence of investors, leaving many longing for a little peace and stability.
There is a medium-term descending price channel which continues to hold the price lower, but the price action within this is so choppy that it is hard to trade.
The USD/MXN is around the 17.71575 as fast conditions continue to be demonstrated on trading platforms as speculators try to purse opportunities in a Forex market that is volatile.
The USD/ZAR is traversing around 16.56700 as of this writing depending on the bids and asks as a wide spread is being demonstrated, this as risk adverse sentiment continues to keep global Forex nervous.
The German index tried to rally on Wednesday but fell apart fairly quick.
The British Pound has rallied against the Japanese yen on Wednesday, as the markets continue to see a lot of risk appetite questions appearing.
I don't think this is a market that will be easy to deal with in the short term.
There are some resilient traders in this market, and the fact that it is at least “hanging in there” as the world crumbles is a strong sign.
The US dollar is looking to make a move against the Norwegian Kroner sometime soon.
The euro initially rallied on Wednesday but has since given those gains back as we try to sort out the next move.
The British pound tried to rally early on Wednesday but gave back gains to keep within the consolidation area.
The US dollar has found buyers on Wednesday against the Loonie, as the larger range looks to be holding.
Sometimes, it isn’t what a market is doing that is interesting, sometimes it is what it won’t do.
