Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of August 23, 2020 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.
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Start the week of August 23, 2020, with our Forex forecast focusing on major currency pairs here.
Brazil continues to struggle with the Covid-19 pandemic, recording over 40,000 new infections daily, and the Secretariat of Economic Policy, part of the Ministério da Economia,
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Eurozone governments are poised to rollback support measures for businesses, implemented as a response to the Covid-19 pandemic.
The NASDAQ 100 initially fell during the trading session on Thursday, but then turned around to show signs of life again.
The S&P 500 initially fell during the trading session on Thursday but as you can see the market has turned around to show signs of life again.
The silver markets gapped lower to kick off the trading session on Thursday as we may have gotten a little bit ahead of ourselves in the short term,
The West Texas Intermediate Crude Oil market has pulled back initially during the trading session on Thursday on a stronger US dollar
Gold markets have gapped lower to kick off the trading session on Thursday, but then turned around to somewhat fill the gap.
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The British pound has rallied significantly during the trading session on Thursday, reaching towards the 1.32 level after initially falling during the day.
The Mexican peso has lost a little bit of strength during the trading session on Thursday as the US dollar reached towards the 50 day EMA.
The Australian dollar has initially fallen during the trading session on Thursday but looks as if it is ready to continue grinding higher based upon the nice bounce that we have seen
The US dollar initially tried to rally against the Japanese yen during the trading session on Thursday but turned around to fall again as we have seen a lot of volatility in this pair
The Euro has gone back and forth during the trading session on Thursday as we continue to see a lot of volatility in general.
The recent strong EUR/USD gains stopped around the 1.1965 resistance, and with technical indicators reaching overbought areas, the profit-taking activities were activated, which pushed the pair towards the 1.1830 support at the time of writing.