The crude oil markets initially dipped slightly during the trading session on Wednesday, reaching lows of the previous session before turning around and showing life 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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Low water marks of 3.2500 were tested in April as traders sought the relative safety of the JPY, but as the markets resume a more confident nature the Thai Baht has begun to pick up strength against the JPY.
For 4 consecutive sessions, the GBP/USD is trying to maintain recent risk on gains, which pushed it towards the 1.2755 resistance, the highest level in 3 months, but the Brexit file continues to be a pressure factor on any Pound gains.
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The Euro initially dipped during the trading session on Tuesday but found buyers near the 1.1240 level to turn around a break back above the 1.13 handle.
The US dollar has fallen pretty significantly during the trading session again on Tuesday, as we reached towards the ¥107.50 level.
The Australian dollar has fell during most of the session on Tuesday but then saw buyers come into the market late.
While some traders may correlate the decline in value for the NGN as part of a reaction to the Coronavirus pandemic, the African currency has not rebounded and remains within a stubborn weak trading range against the US Dollar likely due to the collapse of trading in the world’s Crude Oil industries.
We may have found some exhaustion in a market that has been overdone.
For the third straight day, the USD/JPY continues its bearish correction.
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For three trading sessions in a row, the gold price is back to correct upwards and compensate for its recent losses, which extended to the $1671 support at the end of trading last week.
AUD/USD: Aussie has great residual strength
EUR/USD Technical Analysis: The US inflation Reception on the Rise.
The British pound has broken down a bit during the trading session initially on Tuesday, reaching towards the 200 day EMA.
The NASDAQ 100 has initially pulled back a bit during the trading session on Tuesday only to shoot above the 10,000 level at one point during the day.
Brazil became the epicenter of the global Covid-19 pandemic.