Gold markets initially gapped higher to kick off the week, but then pulled back to fill that gap and look for buyers underneath.
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 Australian dollar has rallied again on Monday, crossing the 0.70 level.
The S&P 500 initially gapped higher to kick off the week on Monday, and pulled back a bit to test the 3200 level, and then turned around to rally yet again.
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The Euro has rallied a bit during the trading session on Monday, breaking towards the 1.1450 level yet again.
The British pound has initially pulled back a bit during the trading session on Monday, but then shot straight up in the air to break above the 1.2650 level.
The US dollar has rallied a bit during the trading session on Monday to kick off the week, but at this point, I think the likelihood of anything major happening is probably minuscule.
The NASDAQ 100 has rallied rather significantly during the trading session on Monday again, as Wall Street plows into just a handful of stocks as per usual.
EUR/USD: Beware long-term resistance near 1.1500
For two weeks in a row, the EUR/USD pair witnessed an upward correction path that succeeded in having the pair bounce back to the 1.1451 resistance, its highest level in four months.
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The factors supporting the continuation of gold ounce’s price gains to new highs are still in place, which explains the stability of gold prices above the $1800 psychological resistance, which is near its highest level in nine years.
With the loss of hope that the two sides of Brexit - the European Union and the UK - will soon reach an agreement that will chart relations between them after the end of the transitional period.
The Swedish Krona continues to make support levels appear vulnerable.
The USD/ZAR has run into a large amount of consolidation the past few trading sessions as stable risk appetite and a solid price for gold are balanced by staggering coronavirus statistics and economic worries from South Africa.
The USD/PKR has endured choppy trading the past five days, but its range should not be a surprise to anyone.
India is the third-most infected country with Covid-19, trailing the US and Brazil, and the most-infected in Asia.