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 US dollar rallied significantly during the trading session on Wednesday, after initially pulling back below the ¥107 level.
Gold markets gapped higher to kick off the trading session on Wednesday, and then spent the day back and forth in what would have been most accurately described as choppy trading.
Bitcoin markets rallied during the trading session on Wednesday, launching from the 200 day EMA and even managed to break above the $8500 level.
The West Texas Intermediate Crude Oil market initially shot higher during the trading session, then pulled back.
Gold is turning its short-term resistance zone back into support following a reversal from a previous breakdown.
Brexit negotiations are ongoing and forex traders have to sort through conflicting reports.
Volatility in the EUR/CHF increased as price action initially pushed above its short-term resistance zone and advanced into its ascending 61.8 Fibonacci Retracement Fan Resistance Level.
USDCAD: Bullish consolidation between 1.3289 and 1.3345
USDCHF Analysis: Area at 0.9900 is likely to be today’s pivotal point
GBPUSD: Bearish below 1.2200
EURUSD: Weakly bullish above 1.0965
Conflicting reports were released over the past few hours in regards to the US-China trade talks.
Natural gas markets initially tried to rally during the trading session on Wednesday, but then fell into the support level underneath
The NASDAQ 100 has rallied a bit during the trading session on Wednesday as we await the US/China trade talks.
The S&P 500 has rallied a bit during the trading session on Wednesday, as we continue to see a lot of jockeying back and forth.