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 rapid spread of the deadly Corona virus in China at a very sensitive time forced the Chinese authorities to speed up taking the necessary measures to contain the situation.
The cotton markets rallied significantly during the trading session on Wednesday, breaking significantly above the $70 level, and then close near the $71 handle.
AUD/USD: More bullish above 0.6856
The Euro initially fell during the trading session on Wednesday but has bounced slightly after extending below the 0.8450 level.
The Australian dollar has gone back and forth during the course of the session on Wednesday, as we had reached towards the down trending line that previously had been resistance.
The US dollar tried to rally during the trading session on Wednesday but gave back quite a bit of the gains in order to form a less than impressive candlestick.
The Euro has continued to do almost nothing during the trading session on Wednesday, as we are simply going back and forth around the 50 day EMA.
At the end of the month, we will have an interesting meeting for the Bank of England, as there are a lot of traders out there
The NASDAQ 100 has initially shot higher during the trading session on Wednesday but gave back quite a bit of the gains as we reached the crucial 9250 handle.
The S&P 500 had rallied a bit during the trading session on Wednesday, to reach to a fresh, new high but then gave back quite a bit of the gains.
The natural gas markets have gone back and forth during very quiet trading on Wednesday, as we await the next move.
The West Texas Intermediate Crude Oil market has broken down significantly during the trading session on Wednesday, slicing through the 200 day EMA
The gold markets initially pulled back during the trading session on Wednesday but continue to find buyers at the $1550 level.
USD/JPY: Bearish
BTC/USD: Level looks increasingly pivotal