The Australian dollar initially tried to rally during the trading session on Wednesday but has turned around to show signs of exhaustion again.
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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USD/JPY: Approaching the lower edge of the long-term price range
BTC/USD: Medium-term bullish trend still valid
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The NASDAQ 100 went back and forth during the trading session on Wednesday, as we continue to dance just above the 12,000 level.
GBP/USD: Final brinkmanship on U.K. / E.U. trade deal
Silver markets have gone back and forth during the trading session on Wednesday, as we continue to dance around the $24 level underneath, and the $50 level above.
The British pound was all over the place during the trading session on Wednesday as traders continue to focus on Brexit as per usual.
Gold markets have rallied a bit during the trading session on Wednesday as the $1900 level has been important yet again.
EUR/USD: Support at 1.1726 looks very pivotal
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The West Texas Intermediate Crude Oil market has done very little during the trading session on Wednesday as we continue to wait to see whether or not there is going to be a stimulus in the United States.
The Euro has gone back and forth during the trading session on Wednesday as we continue to dance around the 50 day EMA.
As expected, more European restrictions to contain the new Coronavirus outbreak will increase pressure on the single European currency, as the European economy is still in the recovery phase from the consequences of the first wave.
The recovery of the US dollar was a good reason for the retreat of gold prices to the $1882 support at the beginning of Wednesday’s trading, before the price of the yellow metal stabilized around $1897 an ounce at the time of writing.
The EU leaders are to meet on Thursday and Friday at a European Council summit where trade negotiations are on the agenda.
For four trading sessions in a row, the USD/JPY pair was under downward pressure pushing it towards the 105.25 support before settling around 105.50 at the time of writing.