My previous GBP/USD signal on 21st May produced a profitable long trade from the bullish bounce rejecting the support level which I had identified at $1.2400.
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 exchange rate rose even after Donald Trump threatened additional tariffs on all European goods entering the US. It jumped to a high of 1.1365
The AUD/USD exchange rate is on the cusp of soaring to its highest level since December 2 as the US dollar index crash gained steam. It soared to a high
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Bitcoin price pulled back after soaring to a record high of $111,971 last week. The BTC/USD pair retreated to below 107,000 as traders started to take profits
The British pound did drop a bit during the trading session on Friday against the Japanese yen to test the 50 day EMA as well as the 200 day EMA indicator.
The Canadian dollar initially pulled back a bit during the trading session on Friday, but it seems like we continue to see a lot of support here right around the 0.5950 level. By bouncing the way we have, we are forming about a 40 pip hammer or so as the market continues to grind sideways in general.
You can see Bitcoin has fallen pretty significantly during the trading session on Friday as there has been a bit of a shock to the system with the president of the United States, Donald Trump, suggesting that there will be a 50 % tariff on the European Union starting June 1st if the situation doesn't change between the two countries. Evidently, he's not happy about how the negotiations are going and this happens
The US dollar initially did try to rally a bit during the trading session on Friday, but you can see we have sold off again against the Mexican peso
The Aussie dollar has rallied a bit during the Friday trading session, but we're still in the same range that we have been in for what seems like a lifetime
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Risk sentiment deteriorated last week as the US/EU trade war came into focus following unproductive negotiations and threatening comments from President Trump, knocking both the greenback and global (especially US) stock markets.
The EUR/USD finished Friday’s trading near the 1.13575 ratio, which was near its high for the week, but the currency pair is still trading near a value it traversed around the 11th of April.
WTI Crude Oil remains within the lower elements of its price range having gone into this weekend near 61.380, this as the U.S Memorial Day holiday gets ready to be observed tomorrow.
Key market insights for May 26: USD, oil, Bitcoin, and stocks react to tariffs and support levels.
For three consecutive trading sessions, immediate gold prices have moved with strong upward momentum, with gains extending to the $3320 per ounce resistance
The continued weakness of the US dollar in the forex markets allowed EUR/USD bulls to complete the upward trajectory