Ahead of the Bank of England's announcement of its monetary policy decisions on Thursday, the GBP/USD currency pair is benefiting from investor risk appetite and the dollar’s collapse.
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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Sharp losses in the US dollar were a major factor in the rise of gold and silver futures, especially after the conclusion of the monetary policy meeting of the US Federal Reserve Board.
The USD collapse continued amid the weak performance of the US economy, the stumbling of stimulus negotiations and the wave of risk appetite that dominates global financial markets with the beginning of COVID-19 vaccinations.
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The Dow Jones 30 is within record of all-time high territory and speculators who are trying to sell against the trend with the belief it is overvalued may want to reconsider their skepticism.
The USD/MXN is challenging important support levels early today.
The USD/INR has demonstrated an ability to continue its bearish trend this week and has been able to sustain its lower values.
The USD/SGD not only burst through support levels yesterday, but obliterated them.
The West Texas Intermediate Crude Oil market pulled back during the trading session on Wednesday as we continue to see a lot of volatility in the markets.
The US dollar rallied during the trading session on Wednesday, but then turned around by the end of the day after the Federal Reserve announcement.
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The Australian dollar continues to rally, after initially pulling back during the day on Wednesday.
The S&P 500 fluctuated during the trading session on Wednesday as the 3700 level offered a bit of resistance.
The NASDAQ 100 rallied again during the trading session as we got through the Federal Reserve meeting and announcement.
The gold markets fluctuated as we await announcements regarding stimulus and the Federal Reserve, but we will continue to hear a lot of noise.
Silver markets initially tried to rally during the trading session on Wednesday as we await results of stimulus talks and the Federal Reserve meeting during the trading session.
The Bitcoin market took off during the trading session on Wednesday, breaking above the $20,000 level quite handily.