A £350 billion war-time like rescue package was announced by the UK to combat the economic fallout from Covid-19.
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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Switzerland announced CHF10 billion in assistance to small businesses and employees as Covid-19 has crippled the supply chain
While financial markets are faced with the most significant stress since the global financial crisis of 2008, the cryptocurrency sector is trapped in the middle of capital outflows.
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EUR/USD: More Bearish
The Bitcoin market has rallied slightly during the trading session on Tuesday, as the $5000 level has offered enough support to cause the market to pop a bit.
Silver markets went back and forth during the trading session on Tuesday, bouncing around just above the $12 level after massive selloffs have hit this market.
The WTI Crude Oil market initially rallied during the trading session to reach towards the $30 level,
Gold markets went back and forth during the training session on Tuesday, using the 200 day EMA as a supportive indicator.
The recent decisions of the US Federal Reserve Bank to reduce the interest rate to the threshold of 0% with more quantitative easing plans along with the strict efforts of the US government to stop the bleeding of record losses for the US stock markets.
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Despite world concern and record losses for global stock markets led by Wall Street, gold prices continue to decline sharply.
The US dollar went back and forth during the trading session on Monday, as the Federal Reserve cut interest rates by 100 basis points
For five trading sessions in a row, the GBP/USD price is moving inside a violent descending channel that pushed it towards the 1.2201 support, the lowest in five months, before settling around 1.2270 at the time of writing.
In the beginning of this week’s trading, the EUR/USD pair attempted to rebound higher, but gains did not exceed the 1.1236 level.
AUD/USD: New 11-year low prices
The Euro has rallied significantly during the day on Monday, reaching towards 1.1250 level before pulling back a bit.