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 pulled back during the trading session but did bounce a bit on Tuesday.
Natural gas markets have initially pulled back during the trading session on Tuesday but have shown quite a bit of resiliency by bouncing and forming a bit of a hammer.
The NASDAQ 100 initially pulled back during the trading session on Tuesday but turned around to show signs of support yet again as we have so much in the way of bullish pressure longer term
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The S&P 500 has initially pulled back during the trading session on Tuesday only to turn around and show signs of life again.
Gold markets continue to look bullish overall, but the trading session on New Year’s Eve ended up forming a shooting star.
The Euro has broken higher during the trading session again on New Year’s Eve, as we are above the 1.12 handle.
The Australian dollar has rallied a bit during the trading session on New Year’s Eve, but this is a market that is starting to get a little bit overextended.
The US dollar fell again during trading on Tuesday, as we reached towards the 200 day EMA.
Bitcoin markets drifted a bit lower during the New Year’s Eve trading session, as we continue to juggle just below the $7250 level.
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The British pound has rallied nicely during the trading session on New Year’s Eve, breaking above the resistance at the 1.32 handle before getting a bit more sluggish near the 1.3250 level.
Litecoin has suffered together with other major cryptocurrencies and saw its hashrate contract to 2019 lows, followed by price action.
Ripple, or more precisely the Ripple token, joined Ethereum in a disastrous 2019 from a price action perspective.
Ethereum is suffering from an increasingly bearish fundamental scenario, supported by technical conditions.
Bitcoin is positioned to extend its bearish chart pattern after price action was rejected by its short-term resistance zone.
The weakening of the US dollar and the renewed global trade and geopolitical tensions were catalysts for the USD/JPY pair to correct lower towards the 108.62 support.