The British pound initially pulled back a bit during the trading session on Tuesday, but then turned around to show signs of stability again.
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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The EUR/USD retreated slightly during the overnight session as investors reacted to Jerome Powell’s testimony to Congress.
The AUD/USD pair retreated during the Australian session as investors reacted to the latest Australian Manufacturing and Services PMI numbers and the new lockdown in Sydney.
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For the second day in a row, the price of the EUR/USD currency pair is trying to correct upwards after sharp selling operations that pushed it towards the 1.1847 support level.
For the second day in a row, gold futures contracts continue to bounce up after the sharp decline last week.
Ahead of the expected testimony of US Central Bank Governor Jerome Powell today, the USD/JPY currency pair maintains its bullish momentum.
The recent bearish correction of the GBP/USD currency pair was sharp, which plunged the pair to the 1.3786 support level, the lowest in a month and a half.
DOT/USD continues to see bearish sentiment break beneath support levels which have proven vulnerable.
XRP/USD has seen a swift selloff in the past couple of days and important mid-term support junctures have proven vulnerable.
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The value of DOGE/USD has essentially been torn into half the past week of trading as the broad cryptocurrency market remains agitated.
ETH/USD is trying to remain above important mid-term support levels as value continues to erode and sentiment stays nervous.
The euro rallied a bit during the trading session on Monday to recover quite nicely.
The British pound rallied a bit during the trading session on Monday to break above the 1.39 handle, wiping out the losses from the previous session on Friday.
The DAX initially dropped during the trading session on Monday, dipping below the 50-day EMA before recovering quite nicely.
The market has been bullish for what seems like a lifetime, and every time we fall out of bed the Federal Reserve is there to say the day.