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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Forex Technical Analysis
Investors were counting on the summit between German Chancellor Merkel and British Prime Minister Boris Johnson for a breakthrough on the Brexit issue, which has strained global financial markets and is one factor in the possibility of a global crisis.
The minutes of the US Federal Reserve meeting held in late July showed that members plan to pay close attention to the effects of the data on the economic outlook.
NZDUSD: Bearish price channel
AUDUSD: Slightly bearish consolidation
USDJPY: Price cannot get above 106.73
Bitcoin: Bearish but supportive inflections nearby
USDCAD: Still weakly bullish
USDCHF Analysis: Bullish above 0.9803
GBPUSD: Messy and unpredictable on Brexit renegotiation attempt
EURUSD: Bearish below 1.1092
Gold markets initially pulled back during the New York trading session on Wednesday, reaching down towards the $1500 level before finding a bit of support.
The West Texas Intermediate crude oil market initially tried to rally during the New York trading session on Wednesday but found enough resistance above the downtrend line and the 50 day EMA to turn around and form a somewhat resistive candlestick.
The US dollar rallied a bit during the New York trading session on Wednesday, reaching towards the ¥107 level yet again.
The S&P 500 rallied quite nicely during the New York trading session on Wednesday as we continued to see a lot of bullish pressure.
The natural gas market tried to rally a bit during the New York trading session on Wednesday but faced a selloff yet again as they continued to look at the 50 day EMA as a bit of a “ceiling” in the market.