Start the week of April 4, 2021 with our Forex forecast focusing on major currency pairs here.
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 S&P 500 has rallied significantly during the trading session on Thursday to break above the 4000 level as traders jumped into the market to open up Q2.
The NASDAQ 100 rallied during the trading session on Thursday as we head into Easter.
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The US dollar has initially tried to rally during the day on Thursday against the Canadian dollar but found the 1.26 level as a bit too much to overcome.
The German index has rallied significantly during the trading session again on Thursday as we continue to see the DAX outperform a lot of indices globally.
At the end of the day we are simply in an area of consolidation while we try to figure out where to go next.
The Euro bounced significantly during the trading session on Thursday as the 1.17 level has offered significant support.
The British pound has rallied significantly during the trading session on Thursday, as the 1.3750 level has been important more than once.
The Australian dollar has initially fallen during the trading session on Thursday but turned around to show signs of strength as the yields in America started to drop again.
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The bitcoin market has drifted a little bit lower during the trading session on Thursday in what would be best described as a very quiet session.
The market is one that moves inversely to yields, so we think that the 10 year note needs to be paid close attention to.
After the bears pushed the price of gold to the $1678 support level during yesterday's trading, gold has returned to settle around $1713 as of this writing.
During yesterday's session, despite thedollar's strength, the GBP/USD pair bounced back to 1.3811 before settling around 1.3780 at the beginning of Thursday's trading session.
The continuous and robust economic stimulus plans by the US administration allowed the US dollar to reap more gains against the other major currencies.
The EUR/USD has been dominated by a bearish outlook for several trading sessions in a row, stabilizing around the 4-month low support level of 1.1704.