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.
The Japanese yen traded around 153.30 yen against the US dollar on Tuesday, hovering near its three-month low and remaining under pressure from political uncertainty after Japan's ruling coalition lost its parliamentary majority in weekend elections.
The GBP/USD exchange rate is likely to remain under pressure in the coming days, with any bouts of strength likely to be short-lived.
The previous weekend saw some recovery in the euro, suggesting that the dollar's appreciation trend may be nearing exhaustion.
Gold prices were under pressure on Monday as the US dollar and US Treasury yields rose, eroding demand for the precious metal.
Early in the session on Monday, the New Zealand dollar did try to rally against the Swiss franc, but it gave back those gains rather rapidly.
The Euro has rallied a bit during the course of the trading session on Monday against the British pound.
The S&P 500 has gapped to the upside during the early hours on Monday as we continue to see upward pressure.
The Norwegian Krona has been on the back foot for some time and now it looks like the US dollar is trying to break above the 11 level, which of course is a large round psychologically significant figure.
Gold initially pulled back just a bit during the early hours on Monday only to turn around and show signs of life again.
During my daily analysis of the EUR/USD pair, the first thing I see is that we are hanging around the 1.08 level, an area that of course has been important multiple times.
During my daily analysis of the GBP/USD pair, the first thing I see is that there has been a lot of volatility in this market.
During the Monday session, we have seen the US dollar pull back a bit against the Swiss franc, as the markets are looking a little overstretched at this point in time.
In my daily analysis of European indices, I am paying close attention to the DAX, as we have seen an initial gap to the upside, only to turn around and show signs of life.
After trading lower over the month of October, there are initial signs that the price is finding a floor ahead of the US Presidential Election next week.
During my daily analysis of exotic currency pairs, the USD/MYR pair has caught my attention, because we continue to see a nice recovery in this market.
