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
Recent COVID-19 restrictions in the U.K. were the reason for the decline of the GBP/USD to the 1.3450 support level, after strong gains had it trading at the 1.3703 resistance level.
For the fourth day in a row, the price of the EUR/USD pair is in a downward correction range, having moved to the 1.2132 support level before settling around the 1.2160 level.
The euro fell during the trading session on Monday to kick off the week, reaching down towards the 1.2150 level.
The British pound broke down significantly during the trading session on Monday but also saw a complete turnaround in the overall attitude.
The US dollar initially rallied during the trading session on Monday to kick off the week against the Indian rupee.
The NASDAQ 100 got hit hard to the downside during the trading session on Monday, as it looks like we will try to get to the uptrend line underneath.
The S&P 500 fell initially during the trading session on Monday only to find buyers underneath.
The strong resistance level at 0.7726 is holding.
Gold markets fell a bit during the trading session on Monday to kick off the week, reaching down towards the $1818 level, which is where the 200-day EMA currently sits.
The Australian dollar pulled back a bit during the trading session on Monday to reach down towards the 0.77 level before turning around again.
Bitcoin markets got absolutely crushed on Monday, dropping almost 20% at one point during the day.
The West Texas Intermediate Crude oil market initially fell during the trading session on Monday as traders came back to work, but then turned around to show signs of support, forming a hammer.
The DAX Index pulled back a bit during the trading session on Monday as traders came back to work.
The British pound is seen firmer.
The EUR/USD price is down for the fourth straight day in a row as the strong dollar theme continues, in the longest losing streak for the pair.