The US dollar initially gapped lower against the Japanese yen to kick off the week on Monday, as fears about the coronavirus continues to be a major driver of markets.
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 S&P 500 gapped lower to kick off the trading session on Monday, showing quite a bit of downward pressure.
The NASDAQ 100 has broken down significantly during the trading session on Monday, gapping lower which of course is a very negative sign.
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The Euro initially gapped lower to kick off the trading session on Monday, but then turned around to fill that gap.
EUR/USD: Pivotal point at 1.0842
The British pound initially fell during the trading session on Monday as the week started off rather soft.
The Australian dollar gapped a bit lower during the open on Monday, but then turned around to fill the gap.
The West Texas Intermediate Crude Oil market gapped lower to kick off the trading session on Monday, breaking down below the $52.50 level almost immediately.
Natural gas markets fell again during the day on Monday, initially gapping lower, turning around to rally a bit, and then breaking back down.
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Gold markets gapped higher to kick off the trading session on Monday, as fear of the coronavirus spreading to larger masses continues to cause major issues.
The Bitcoin market initially tried to rally during the trading session on Monday, but as you can see failed at the $10,000 level yet again.
The US dollar remains the best performing currency compared to other major currencies.
Larger and continuous losses caused by the Corona virus (Covid-19) = new historical and record gains for gold.
The gains of the US dollar stopped, giving the GBP/USD price only the opportunity to correct towards the 1.2980 level during last Friday's trading session, and its recent gains were capped around the 1.2848 support.
At the end of last week’s trading, the price of the EUR/USD pair got a new long awaited momentum for the upward correction supporting gains to the 1.0863 level before closing the week's trading around the 1.0847 level.