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.
Prior to the announcement of a historical contraction of the British economy in the Corona era, the GBP/USD pair finds it difficult to make an upward correction in spite of the historically negative figures for the American economic releases.
The EUR/USD bullish correction attempts did not exceed the 1.0885 resistance before returning to stability around the 1.0847 level in the beginning of trading today, Wednesday.
The British pound has shown itself to be rather weak during the trading session on Tuesday, as we had initially rally but then gave back a large amount of the gains
The Euro rallied significantly during the trading session on Tuesday but continues to fail near the 1.09 level and starting at the 1.0850 level.
The US dollar has pulled back against the Japanese yen as the 50 day EMA has offered enough technical resistance to turn the market around.
The Australian dollar has gone back and forth during the trading session on Tuesday as we continue to look at the 0.65 level as an area that is going to offer significant resistance.
The S&P 500 initially tried to break above the 200 day EMA but could not succeed for the breakout.
The NASDAQ 100 initially tried to rally again during the trading session on Tuesday but gave back the gains in a rather ferocious manner slicing through the 9100 level.
Relative strength in the AUD
Yen strengthening on risk-off sentiment.
Indian Prime Minister Modi announced a $266 billion stimulus package, approximately 10% of GDP, to revive the stalled economy.
Pound up on better than expected GDP data
Persistent buying below 1.08007
While US President Trump claims new Covid-19 infections across the country are falling rapidly, his task force, led by Vice President Pence, contradicts those claims.
