The British pound tried to rally during the trading session on Monday, but as you can see, it struggled during the session to keep the gains, breaking down towards the bottom of the range from the last week or so.
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 euro broke down significantly during the trading session on Monday to reach down towards the 1.2050 level yet again.
The NASDAQ 100 bounced from the 50-day EMA, showing signs of strength again and an outsized move to the upside.
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The S&P 500 initially dipped during the trading session on Monday but started to see buyers jump back into the market as we have held the uptrend line.
The pair has room to fall to 0.7555, or even 0.7500.
The West Texas Intermediate Crude Oil market pulled back a bit during the beginning of the session on Monday but then shot straight up in the air.
The US dollar rallied a bit during the trading session on Monday against the loonie, as we continue to pressure the 50-day EMA.
Gold markets fluctuated during the trading session on Monday, initially gapping higher due to the “knock on effect”, as the well-publicized retail attempt at causing a major short squeeze in the silver market rippled through the markets.
The Australian dollar fluctuated during the trading session on Friday as we continue to dance around the 0.76 handle and the 50-day EMA which is sitting just below there.
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Bitcoin initially fell during the trading session only to turn around and show signs of resiliency as we recaptured most of the gains.
The price is heading towards the psychologically important 1.2000 area.
The GBP/USD is holding steady after the relatively mixed economic data from the UK that was released yesterday.
The BTC/USD rose slightly yesterday after Elon Musk, the richest person in the world, said that he was a strong supporter of the currency.
The price of gold has begun February by settling around the $1847 level, continuing its bearish trend.
At the end of last week's trading, the GBP/USD pair tested the 1.3758 resistance level after optimism about Britain's employment data and vaccination progress.