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
The euro fluctuated during the trading session on Friday as we continue to see this market slide down a falling wedge.
The British pound initially fell during trading on Friday to reach down towards the 1.37 level.
Gold markets fell significantly during the trading session on Friday only to turn around and bounce enough to form a hammer again.
It looks as if the market is going to continue to go higher, as we are most clearly showing yet another surge in strength.
The S&P 500 rallied yet again during the trading session on Friday as we closed right around the 4400 level.
The AUD/USD was little changed in early trading as Australia continued its battle against the new wave of the virus.
The EUR/USD price was little changed in early trading as investors refocus on the upcoming Federal Reserve interest rate decision.
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The Euro has gone back and forth on Thursday as we continue to trade in a falling wedge, which of course is actually a bullish signal.
The British pound has rallied significantly on Thursday as we are well above the 200 day EMA now, and looking very likely to continue strengthen.
The Australian dollar rallied a bit during the course of the trading session on Thursday to reach towards the 0.74 level.
Bitcoin markets were relatively positive but quiet during the session on Thursday, as we are awaiting the so-called “death cross” being formed above.
The gold markets fell significantly on Thursday to reach towards the same support level that we had seen during multiple sessions before.