The silver markets have broken above the $20 level during the trading session on Monday, as this signals a major shift in attitude, or perhaps a better way to put it: That we are ready to continue the next leg higher.
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 West Texas Intermediate Crude Oil market initially dropped during the trading session on Monday to kick off the week but has found plenty of support near the $40 level yet again.
BTC/USD: $9,352 today’s likely pivotal point
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Bitcoin markets initially dropped a bit during the trading session on Monday to drift below the 50 day EMA.
Gold markets initially gapped higher to kick off the week, but then pulled back to fill that gap and look for buyers underneath.
The Australian dollar has rallied again on Monday, crossing the 0.70 level.
The S&P 500 initially gapped higher to kick off the week on Monday, and pulled back a bit to test the 3200 level, and then turned around to rally yet again.
The Euro has rallied a bit during the trading session on Monday, breaking towards the 1.1450 level yet again.
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The British pound has initially pulled back a bit during the trading session on Monday, but then shot straight up in the air to break above the 1.2650 level.
The US dollar has rallied a bit during the trading session on Monday to kick off the week, but at this point, I think the likelihood of anything major happening is probably minuscule.
The NASDAQ 100 has rallied rather significantly during the trading session on Monday again, as Wall Street plows into just a handful of stocks as per usual.
EUR/USD: Beware long-term resistance near 1.1500
For two weeks in a row, the EUR/USD pair witnessed an upward correction path that succeeded in having the pair bounce back to the 1.1451 resistance, its highest level in four months.
The factors supporting the continuation of gold ounce’s price gains to new highs are still in place, which explains the stability of gold prices above the $1800 psychological resistance, which is near its highest level in nine years.