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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EURUSD: Swinging consolidation above 1.1000 area continues
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The Canadian Dollar is faced with a rise in bearish momentum, partially due to the political uncertainty about the election outcome.
After the low level Chinese delegation cut its US trip short and cancelled planned visits to US farms, the mood surrounding a trade deal next month between the US and China to end the trade war soured.
Forex traders grew more bullish on the Euro after the ECB cuts its deposit facility rate to -0.50% and announced the re-start of quantitative easing on November 1st 2019 at a rate of €20 billion per month.
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The Euro went back and forth during the trading session on Thursday, initially trying to rally but gave back most of the gains to form a very ugly looking candle stick.
The NASDAQ 100 continues to go back and forth during the trading session on Thursday and there’s no relief in sight.
The Australian dollar fell rather hard during the trading session on Thursday, slamming into the 0.68 level as we had a little bit of a “risk off” scenario.
The US dollar fell during the trading session against the Japanese yen on Thursday as we had finally got a bit of an answer to the question of whether or not the 50% Fibonacci retracement level would cause problems.
The S&P 500 is likely to flop around during the trading session on Friday, as it is what is known as a “quadruple witching day”, meaning that for different assets have options that are expiring.
The British pound has enjoyed a nice rally over the last several weeks, breaking above the 1.25 level during the trading session on Thursday.