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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Strong signs from the Federal Reserve of a near interest rate cut for the first time in a decade have strongly weakened the US dollar,
Global developments, which were a product of the global trade war, have raised doubts about the economic outlook and have strongly contributed to the adjustment of US Federal Reserve monetary policy makers
The British pound initially pulled back during the trading session against the US dollar on Wednesday, but then turned around to show signs of life again.
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The Euro rallied quite stringently during the trading session on Wednesday, reaching much higher after the opening statement by Jerome Powell at the Humphrey Hawkins testimony in front of the United States Congress.
The US dollar fell rather hard against the Japanese yen during the trading session on Wednesday after the Federal Reserve Chairman Jerome Powell released his opening remarks for the Humphrey Hawkins congressional testimony.
USDJPY: Wide swings within long-term price range
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USDCHF Analysis: Weak Dollar drives price down
EURUSD: Euro stronger but within long-term range
The Australian dollar initially fell during the trading session on Wednesday, reaching towards the 0.69 level underneath.
Bitcoin markets initially tried to rally during the trading session on Wednesday but then turned around to fall pretty significantly.