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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As the Bank of Canada kept interest rates unchanged at 1.75%, in a move widely expected by markets, the Canadian Dollar rallied; according to the central bank, the global economic expansion remains intact.
Australian retail sales for October disappointed and exports for October unexpectedly plunged, confirmed that global trade remains weaker than what markets have priced in.
For three trading sessions in a row, the price of the EUR/USD stabilizes above the 1.1000 resistance, which keeps the pair stable from downward pressure.
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Since the correlation between the US dollar and gold prices is inverse, it was normal with the dollar decline, and investors’ flight out of risk, that gains of gold prices increase, which reached the $1482 resistance of, the highest in a month, and is stable around that at the time of writing.
Optimism about the British election to be held in a few days, along with the losses of the US dollar against other major currencies, pushed the GBP/USD pair to make more gains and break the 1.3000 psychological resistance with gains reaching 1.3011, near a six-month high.
Risk aversion and increased pressure on the dollar after the disappointment of the US statements regarding the Phase 1 trade agreement with China,
AUDUSD: Less bullish on poor Australian GDP data
Following the advance in the EUR/USD into its short-term resistance zone, the upside momentum remains exhausted and a short-term corrective phase is anticipated.
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The West Texas Intermediate Crude Oil market went back and forth during the trading session on Tuesday, as we hang around the 50 day EMA.
The S&P 500 broke down rather significantly during the trading session on Tuesday, mainly because of the comments of Donald Trump suggesting that the deal with China could perhaps wait until after the election.
The United States as seen a couple of major snowstorms over the last couple of days, and at this point it looks very likely to have a major effect on the natural gas markets. A
The NASDAQ 100 has fallen pretty significantly during the trading session on Tuesday as Donald Trump suggest that perhaps the US/China trade deal could be after the presidential election.
Gold markets rallied significantly during the trading session on Tuesday, as Donald Trump suggested that the China deal might be better off being done after the election, and that of course causes a lot of fear.
