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 British pound broke higher during the trading session on Tuesday to slice through the 1.36 handle.
The euro bounced quite a bit during the trading session on Tuesday, as the 1.2150 level underneath has offered a bit of support before.
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The US dollar initially tried to rally on Tuesday to break above the 15.50 rand level again, but just as we had seen on Monday, there was more than enough selling pressure above to keep the attempt under wraps.
The Australian dollar rallied a bit during the trading session on Tuesday as we continue the overall uptrend.
Gold markets fluctuated during the trading session on Tuesday as we mimick what happened on Monday.
The GBP/USD bounced back in the overnight session as traders reacted to the relatively hawkish statement by Andrew Bailey.
The AUD/USD is little changed, with focus being on the US dollar weakness since there is no economic events from Australia.
The Dow Jones 30 remains a speculative playground for traders who want to pursue its bullish trend.
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The AUD/JPY has demonstrated a long-term bullish trend, which has proven speculatively opportunistic for traders who enjoy wagering on the Forex pair.
The USD/BRL has seen a bullish trend emerge the past week which mirrors many other major Forex pairs.
The USD/ZAR has seen a bullish surge create havoc the past week for speculators who have been pursuing downside price action without proper risk management.
By the end of last week’s trading, the price of gold had collapsed to the support level of $1828 from the resistance level of $1918 in the same trading session, the largest percentage loss in one day in two months.
For five trading sessions in a row, the USD/JPY pair is in an upward correction range that moved towards the 104.40 resistance level before settling around 104.10.
Recent COVID-19 restrictions in the U.K. were the reason for the decline of the GBP/USD to the 1.3450 support level, after strong gains had it trading at the 1.3703 resistance level.