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
Downside pressure on the Singapore Dollar increased after the 2019 GDP came in at the lowest growth rate in ten years, at 0.7% annualized.
After the Bank of Canada kept its interest rate unchanged at 1.75%, in a move widely anticipated by financial markets,
GBP/USD: Breakout from triangle formation
EUR/USD: Resistance at 1.1100 looks pivotal
Japanese trade data for December showed the global economic slowdown extended, which drove safe-haven traders to the Japanese Yen.
Australian consumer inflation expectations surged to 4.7% in January.
The spread of the Corona virus in China and the official announcement of the six deaths so far have frightened global markets, and global stock indicators collapsed amid expectations of more rapid spread of the virus.
Gold prices witnessed fluctuation in performance during yesterday's session between the $1569 resistance and a rapid decline.
The improvement in job numbers and wages in the UK has not completely ended the pessimism that occurred after the announcement of the GDP growth and inflation figures from the UK.
Despite the improvement in the reading of the ZEW index of German economic sentiment to the highest level since 2015.
AUD/USD: Beware of bullish reversal from 0.6817
The S&P 500 should continue to find buyers on pullbacks going forward, and therefore the fact that we did up forming a bit of a hammer like candle
The US dollar has broken down significantly during the trading session on Tuesday, grinding below the ¥110 level later in the day.
The Euro initially tried to rally during the trading session on Tuesday but gave back all of the gains to turn around a break below the 1.11 handle again.
The British pound has rallied a bit during the trading session on Tuesday, as traders came back to work in New York.