The euro broke down significantly during the trading session on Wednesday as the 1.22 level has continued to show a lot of resistance.
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 GBP/USD price retreated after the strong US consumer inflation numbers.
The BTC/USD price crashed by almost 20% as the market reacted to the latest US inflation data and the decision by Tesla to stop accepting the currency.
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Geopolitical tensions subsided and the dollar weakened after US employment report. This contributed to a sharp bullish rebound in the GBP / USD currency pair
In the search for more stimulus, the price of gold fell to the level of 1818 dollars an ounce, to cut off the path of recent gains
The S&P 500 has fallen initially during the trading session on Tuesday but found enough support near the 4100 level to turn things around and show signs of life again.
The NASDAQ 100 initially sold off quite drastically during the trading session on Tuesday to slice through a major uptrend line but turned around to form a massive hammer.
The USD/JPY's hemorrhage of losses continues, reaching the 108.35 support level before settling around 108.70 as of this writing, ahead of the US inflation figures.
The recent gains of the EUR/USD pair came to a halt at the 1.2180 resistance level, a two-and-a-half-month high.
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The USD/CAD remains near incredibly important long-term support values and has produced a rather steady range the past two days.
The USD/ZAR is traversing low water marks early this morning, which are testing values not sincerely traded since December of 2019.
Bitcoin markets fell initially to kick off the Tuesday session, but as we have seen multiple times, buyers have come back in to pick up the market and go sideways in general.
The DAX fell initially during the course of the trading session to reach down towards the 15,000 level, an area that has been important more than once.
The FTSE 100 has pulled back significantly during the course of the trading session on Tuesday to reach down towards the 6900 level.
The Euro initially shot higher during the course of the trading session on Tuesday but found the 1.22 level as resistive.