The USD/JPY has been moving within a bullish channel, stabilizing around the 105.00 resistance level at the beginning of Tuesday's trading and waiting for more momentum.
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 EUR/USD had a bearish start to the week as it plummeted to the 1.2058 support level, the same level tested last week, with 1.2000 as the next target.
The DAX Index bounced during the trading session on Monday after initially gapping lower.
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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 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.
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.
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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.
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.