The GBP/USD exchange rate made a strong reversal during the American and Asian sessions ahead of key economic data from the US and the UK.
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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Bitcoin price continued to diverge from American stocks as regulatory concerns continued.
The Australian dollar drifted below its last week’s high as market participants waited for the important US consumer inflation data and the Fed interest rate decision.
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My previous EUR/USD signal on 6th June was not triggered, as there was no bullish price action when the price first reached the area of identified support at $1.0704.
By the end of last week's trading, the bulls succeeded in pushing the EUR/USD currency pair, with gains, towards the 1.0788 resistance level, before closing trading around 1.0749
During last week's trading, the bulls succeeded in capturing an important resistance level, as the GBP/USD currency pair moved above the 1.2550 resistance.
The course of the US dollar pairs is on an important date this week, with a package of economic data and influential events, led by the announcement of US interest rates.
The halting of the US dollar's gains allowed the XAU/USD gold price to recover to the $1973 resistance level
The Turkish lira continued its losses against the US dollar at the beginning of the new week, as the Turkish currency continued its rapid losses against the dollar for a period of about a month.
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The USD/MXN is traversing values it has not traded since May of 2016, this as the currency pair has extended bearish momentum and continues to prove support vulnerable.
As of this writing the USD/ZAR is near the 18.73500 level with fast price changes being exhibited.
During Friday's trading session, the British pound demonstrated a rally, breaking above the 1.2550 level, which had previously acted as resistance.
Silver had a modest rally during Friday's trading session, but signs of waning momentum are becoming apparent.
Natural gas markets experienced a slight decline during Friday's trading session as the summer range continued influencing prices.
The EUR/USD experienced a slight retreat during Friday's trading session, displaying signs of hesitation near the 1.08 level.