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 bullish momentum still dominates the EUR/USD performance, and during yesterday's trading, it pushed towards the 1.1800 resistance, which confirms the extent of the bulls' control over the performance, with continued pressure on the American currency.
Almost a month ago, it was highly unlikely that the GBP/USD could reach the 1.3000 psychological resistance, as the pair was moving inside a bearish channel that pushed it towards the 1.2257 support at the time.
For the third consecutive day, gold ounce price was not able to overcome the $1981 resistance barrier, the highest in the history of the yellow metal, which confirms how overbought gold is after the recent price jumps.
Record and historical economic deflation in the U.S during the Q2 of the controversial year 2020, will be tough, but expected, on the USD, which explains why the USD/JPY remained around its lowest levels since the mid of last March.
AUD/USD: New 1-year high price made at 0.7197
USD/JPY: 105.00 area not giving any clues yet
BTC/USD: Consolidation above $10,696 likely over medium term
GBP/USD:Yet 1.3000 could be a strong obstacle
EUR/USD:Key support at 1.1685
The Euro has rallied quite significantly during the trading session on Wednesday, reaching towards the 1.18 level.
The NASDAQ Composite Index has experienced a short bearish trend the past week of trading after hitting new highs.
While the precious metal is certainly alluring and full of opportunity, trading Gold can also lead to quick losses if risk management is not used properly.
The EUR/USD has continued to display a solid bullish trend. Yesterday’s price action broke important resistance levels and the 1.18000 juncture was touched for the first time since September 2018.
Speculators who anticipated the consolidated range of the USD/SGD to remain unchallenged
South Africa, Africa’s most infected Covid-19 country, received $4.3 billion in emergency financial assistance under the Rapid Financing Instrument of the US-based International Monetary Fund (IMF)