The USD/BRL has been able to sustain selling momentum since Thursday of last week, the currency pair ended yesterday trading near the 5.5050 ratio, this after last Thursday’s value touched 5.6765.
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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Gold prices hit another record high at the start of this important week’s trading with gains reaching the $2,590 resistance level per ounce ahead of the US Federal Reserve meeting this week, during which the US central bank will assess its monetary policy for the first time in more than four years.
It was a very strong day for the euro against the US dollar on Monday as we broke back above the 1.11 level.
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At this point, it looks like the US dollar will end up trying to continue to fight against the 200 day EMA.
The US dollar has declined over the past couple of days, with the 50-day EMA acting as resistance. This suggests continued downward pressure, with the USD likely to target the 7.7875
The US dollar has been a little bit soft against the Swiss Franc again during the trading session on Monday, but we continue to pay close attention to the 0.84 level.
Gold initially did try to rally a bit during the Monday session, but it looks like we are stalling a bit.
The USD/SGD in early trading this morning continues to show an appetite for bearish appetite from financial institutions as short-term speculators deal with the selling trajectory.
The AUD/USD pair continued its slow recovery as the US dollar weakness gained steam ahead of the Federal Reserve interest rate decision.
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The GBP/USD pair made a strong bullish breakout ahead of a busy week in the market when the Fed and BoE will deliver their decisions.
Bitcoin looks difficult to predict today, but there is a weak medium-term bullish trend and a market nervous of being long of the USD, so looking for long trades may be the better bias.
The EUR/USD exchange rate continued rising after the European Central Bank (ECB) delivered its second interest rate cut and as the Federal Reserve prepared for its first cut in over four years.
USD/INR pair has pulled back rather significantly.
The CAC 40 hangs around the €7500 level, which is an area that is of course a large, round, psychologically significant figure, and of course an area that we have seen a lot of action at previously.
The GBP/USD pair does in fact look very bullish.