The US dollar gapped higher against the South African Rand to kick off the week, showing signs of weakness in the emerging market yet again.
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 S&P 500 initially gapped lower on Monday but then shot straight up in the air to show signs of strength.
The US dollar was all over the place during trading on Monday as traders are trying to figure out what to do next.
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The NASDAQ 100 has had a strong session on Monday, after initially gapping lower. In fact, the market has closed towards the very top of the range, showing signs of strength yet again.
The British pound went back and forth during the trading session on Monday, as we continue to test the 1.25 handle.
The Euro initially tried to rally during the trading session on Monday but has seen a lot of resistance at the 1.1150 level.
Panic-selling initially plunged this currency pair below the essential 0.60000 level before a massive price action reversal unfolded.
Silver markets fell hard during the trading session on Monday as we have broken down from the $15.00 level.
Gold markets have gone back and forth during the trading session on Monday, showing signs of noise.
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The West Texas Intermediate Crude Oil market has broken through a major support level in the form of the psychologically important $20.00 level.
A strong setback for the US dollar against most other major currencies during last week's trading, influenced by the recent weak economic data and the massive financial stimulus of the US government worth 2 trillion dollars.
Despite the sharp decline in the US dollar with the formal signature and approval of the massive US stimulus plan.
The GBP/USD pair took advantage of the USD drop and moved towards the 1.2485 resistance.
Amid increasing volatility in the global financial markets and with the return of pressure on the US dollar after the approval of the huge and long-awaited US stimulus plan.
US Dollar weakness is anticipated to accelerate due to the massive oversupply of the currency by the Federal Reserve.