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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Economic trade data out of Japan confirmed that the global economy continues to weaken, which ushered in the return of risk-off sentiment.
The West Texas Intermediate Crude Oil market has rallied again during the trading session on Tuesday, as we are above the $60 level.
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The S&P 500 has gone back and forth during the trading session on Tuesday and relatively quiet trading.
Natural gas markets initially fell during the trading session on Tuesday but turned around to show signs of strength again.
The NASDAQ 100 did almost nothing during the trading session on Tuesday, as we continue to hang around the 8600 level.
Gold markets initially tried to rally during the trading session on Tuesday but continue to find plenty of sellers above.
The Euro initially tried to rally during the trading session again on Tuesday but as we have seen multiple times, the market cannot hang out above the 200 day EMA for very long.
The British pound broke down significantly during the trading session on Tuesday, reaching down towards the 1.31 handle. At this point, the market is looking at significant support underneath extending all the way down to the 1.30 level.
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EURUSD: Consolidation between 1.1131 and 1.1198
The British pound has broken down rather significantly during the trading session on Tuesday, which is probably overdue after the knee-jerk reaction of the election.
The Australian dollar has fallen a bit during the trading session on Tuesday but has seen buyers come back to push it higher again.
The US dollar has initially tried to rally during the trading session on Tuesday, but as you can see, we have in fact pulled back yet again from the same basic area.
The EUR/USD is trying to hold on to its recent gains, that push it towards the 1.1200 resistance, its highest in four months, before settling around 1.1148,
Despite the GBP/USD correcting to the 1.3235 support in the morning trading today, Tuesday, the general trend of the pair is still up.