South Africa’s business community welcomes the further easing of lockdown restrictions, with the disease alert level set to decrease in June 1st to 3.
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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Japan’s Prime Minister Abe decided to lift the state of emergency for Tokyo, while the government is considering a second stimulus worth ¥100 trillion.
Financial markets have moved past the looming negative impacts of the global Covid-19 pandemic and believe trillions of dollars in new government debt
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There was no movement of the USD/JPY pair in the beginning of this week’s trading, as the performance remained between the 107.54 level and the 107.77 level throughout Monday trading. In the beginning of Tuesday’s trading, the pair settled around the 107.72 level.
Gold price gave up some of its gains in the beginning of this week’s trading, as it fell from the $1733 resistance, reaching the 1721 support before settling around the $1726 level in the beginning of today’s trading.
For five consecutive trading sessions, the GBP/USD pair has been moving in a very limited and narrow range with a downtrend, and this performance technically foreshadows a strong movement coming in either direction.
A quiet start to the EUR/USD pair in a limited range between the 1.0870 support and the 1.0914 level, despite the announcement of a positive German IFO index reading.
USD/JPY: Weakly bullish with low volatility
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Retail demand pushed equity markets into resistance levels, while institutional activity remains subdued, as evidenced in the lack of volume during this bear market rally.
BTC/USD: Price is ranging over the long term
GBP/USD: Price is clearing trend line and 1.2250 so far
EUR/USD: Yet strong long-term resistance in pivotal area above 1.0961
The US dollar went sideways against the Japanese yen during the trading session on Monday, which of course was Memorial Day in the United States
The British pound has rallied slightly during the trading session on Monday, as banks in both countries were closed.