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 EUR/USD is still near its highest levels in 5 months, as it has reached towards the top at 1.0937 and is established there at the time of writing.
The GBP was negatively affected by yesterday’s transactions despite a strong improvement in the British Manufacturing Sector.
The USD/JPY is trying to hold on to the gains on top of 112.00 before the announcement of important US data today along with the Federals Reserve’s announcement.
The EUR/USD pair had a positive session on Tuesday, using the 1.09 level as support. The British pound continues to show signs of strength as we are above the 1.29 level again.
The US dollar initially rose against the Japanese yen during the Tuesday session, and even broke above the 112 level. The Australian dollar rallied as well, but then turned around to form a shooting star also.
The S&P 500 had a relatively flat day with a slightly negative close during Tuesday’s trading hours. The NASDAQ 100 reached towards the 5650 level but turned around during the day to form a bit of a shooting star.
The WTI Crude Oil market fell significantly during the session on Tuesday as we continue to see quite a bit of bearish pressure in this market. Natural gas markets initially tried to rally but found enough resistance above the $3.25 level.
Gold prices ended a choppy, two-sided trading session slightly higher yesterday. XAU/USD initially fell to its lowest level in three weeks but reversed losses and closed the day at $1256.74.
The EUR/USD is holding on to its gains above 1.09 with the USD continuing to be under pressure with the Federal Reserve starting the two days meeting on Tuesday.
Bonuses & Promotions
The return of Hard BREXIT, due to the EU leaders’ endorsement of new separation terms towards the UK in the Brussels summit on Saturday led to increased fears the BREXIT will face difficulties as initially expected.
In light of strong gains for the Euro, supported by the safe outcome of the important French Elections, guarantees the continuity of the EU and the Euro with the expected loss of the far right candidate calling for the French Exit from the EU and abandoning the Euro.
The EUR/USD pair went back and forth on Monday, testing the 1.09 handle. The British pound fell a bit during the session on Monday, but again of course we have just had the May Day celebrations, which of course would naturally work with lesser volume.
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The USD/JPY pair rallied on Monday, testing the 112 level. The Australian dollar rallied during the day on Monday, jumping over the 0.75 level.
The S&P 500 rallied during the session on Monday, testing the 2400 level. The NASDAQ 100 broke out during the Monday session, clearing the 5600 level.