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.
Despite the decline in the GBP/USD pair to the 1.2436 support with the return of the USD strength and after gains extended to the 1.2647 resistance, its highest level in more than a month, the general trend is still receiving support for the upward correction.
The US dollar has returned to assert that it is the strongest.
AUD/USD: Support 0.6250/68 looks pivotal
USD/JPY: No long-term trend
BTC/USD: Support at $6,576 was strong
US economic data continues to clock in well below economists predictions, suggesting financial markets are mispriced,
Global Covid-19 cases surpassed two million, and the US the epicenter of the virus, accounting for roughly one-third of all infections.
Oil prices may have reached a bottom after OPEC+ announced an unprecedented supply cut of 9.7 million barrels per day,
After a series of failed meetings between Eurozone finance ministers, highlighting deep divisions, and lack of unity within the currency union,
GBP/USD: Bulls have possible small edge
EUR/USD: Strong support above 1.0832
The US dollar has initially pulled back a bit to kick off the trading session on Wednesday, reaching towards the ¥107 level.
The NASDAQ 100 fell during a large portion of the trading session on Wednesday but do pull back a bit to recapture some of the losses.
The S&P 500 has fallen a bit during the trading session on Wednesday, as we continue to hang about the crucial 50% Fibonacci retracement level.
The Euro broke down rather significantly during the trading session on Wednesday but did bounced significantly to recover quite a bit of the losses.
