Start the week of February 8, 2021 with our Forex forecast focusing on major currency pairs here.
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.
Most Recent
The Euro has broken down below the 1.20 level during the trading session on Thursday, as it looks like we are going to continue to see a lot of volatility in this pair.
The S&P 500 initially pulled back just a bit during the trading session on Thursday but continues to push higher.
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The British pound initially fell during the trading session on Thursday in anticipation of the Bank of England interest rate decision and rate statement.
The NASDAQ 100 initially pulled back just a bit during the trading session on Thursday only to turn around and show signs of strength again.
The West Texas Intermediate Crude Oil market has pulled back during the trading session on Thursday to test the $55 level, an area that it broke out from in the last couple of days.
The German index has initially pulled back during the trading session on Thursday but continues to see bullish pressure, perhaps due to the fact that the Euro is losing strength.
The FTSE 100 initially rallied a bit during the trading session on Thursday but gave back the gains as the shooting star from the previous session continues to reassert its resistance.
The Australian dollar initially tried to rally during the trading session on Thursday but gave back the gains above the 0.76 level in order to fall towards the 50 day EMA yet again.
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The Bitcoin markets have been back and forth during the trading session on Thursday as we may have finally ran out of momentum.
The gold markets have broken down significantly during the course of the trading session on Thursday to slice through the 200 day EMA quite handily.
Traders once again brush-off disappointing German economic data and pressure for new all-time highs in the DAX 30.
Dogecoin has now received support from Elon Musk, who tweeted about it earlier today, heavily hinting that now was a good time to buy Dogecoin.
Gold has been in a downward correction range for three sessions in a row, ultimately falling to the support level at $1815 in early trading today.