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 global financial markets have entered a risk-on face, asset rotations have resulted in heavy selling pressure in the Japanese Yen.
The ECB delivered a 10 basis point interest rate cut in its deposit facility rate to -0.50% and announced the restart of its QE program starting November 1st 2019 at a pace of €20 billion per month, open ended.
The USD/CHF accelerated to the upside as the rise in risk-off sentiment resulted in forex traders rotating out of the safe-haven Swiss Franc.
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The Australian economy is heavily exposed to the Chinese one and the Australian Dollar is the top Chinese Yuan proxy currency.
The British pound fell initially during the trading session on Thursday but found enough support underneath the 50 day EMA to turn around of form a bit of a hammer.
The Euro has been all over the place during the trading session on Thursday as the ECB had a press conference and interest rate decision.
Gold markets were all over the place during the trading session on Thursday as the European Central Bank has had an interest rate decision and a press conference, cutting interest rates by 10 basis points, which is very little.
Bitcoin markets rallied a bit during the trading session on Thursday as the ECB has cut interest rates and added liquidity to the market yet again.
The West Texas Intermediate Crude Oil market has fallen again during the trading session on Thursday, as we broke solidly through the 50 day EMA
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The S&P 500 has rallied a bit during the trading session on Thursday, as we have reached towards new highs but could not break out.
Natural gas markets had a choppy session yet again during the trading day on Thursday as the markets may be a little bit overextended.
NASDAQ 100 traders sent the market towards the 8000 handle but ran into a bit of resistance as it pulled back significantly and lost about 60 points.
The Aussie dollar tried to rally again during the trading session on Thursday but found resistance at the 50% Fibonacci retracement level as well, and now it looks as if we are running out of momentum.
The US dollar has initially pulled back during the trading session on Thursday, reaching down towards the bottom of the Wednesday session, before bouncing and breaking above the ¥108 level.
During Thursday's trading, the most important event for the Euro this week will be the monetary policy announcement from the ECB.