The US dollar lost against the Euro quite early during the trading session on Monday, as the EUR/USD pair has reached towards the 1.18 handle.
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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Silver markets have rallied a bit during the trading session on Monday, breaking above the 50 day EMA as we continue to see a lot of momentum jumping into the marketplace.
EUR/USD: Break above 1.1803 would be a bullish sign
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The gold markets initially rallied during the trading session on Monday to kick off the week, as the US dollar got sold off in Asian trading.
The West Texas Intermediate Crude Oil market continues to go sideways more than anything else as there is no clear narrative as to where we are going next.
The British pound continues to struggle with the big figure of 1.30 above, where we have pulled back from.
Throughout last week's trading, the EUR/USD was subjected to downward pressures, which it pushed towards the 1.1688 support and closed the week’s trading around the 1.1716 level.
The US dollar strength is still preventing gold prices from benefiting from the global anxiety of the second coronavirus wave, while the stimulus talks for the US economy have stopped.
Instability and extreme volatility was the most characteristic of the GBP/USD performance during last week’s trading.
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Risk aversion and the mixed US economic results was a catalyst for the USD/JPY pair to move downwards towards the support level at 105.03, before closing last week’s trading around 105.40.
India continues to suffer from inadequate Covid-19 testing capabilities, but the current capacity suffices to keep the world’s fifth-largest economy the second most-infected country behind the US.
The USD/MXN has exhibited a dynamic range the past five days of trading.
With the German economy under intensifying stress from the second wave of Covid-19 infections, questions over the strength of a post-Covid-19 recovery remain elevated.
The USD/NZD has seen bullish activity today as the forex pair enjoys positive momentum upwards as investors come to grips with Prime Minister Jacinda Ardern’s strong showing
The FTSE 100 Index has created mayhem for short term traders on the wrong side of their speculative wagers the past year.