The pair has room to fall to 0.7555, or even 0.7500.
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 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.
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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.
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.
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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.
Prior to the closing of last week’s trading, the Japanese yen fell against the rest of the other major currencies.
The bearish performance of the EUR/USD pushed the pair to the 1.2058 support level last week, but cut its losses and closed the week’s trading around the 1.2135 level after trying to rebound to the 1.2160 resistance.
Traders taking a look at silver for the first time today may have been surprised to see a sudden spike higher in the commodity on their charts.
ETH/USD has experienced a whirlwind of value the past week.