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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Bitcoin: Bullish breakout from consolidating triangle
There will be important comments today by Federal Reserve Governor, Jerome Powell, ahead of his important testimony before the US Congress and the Senate on tomorrow and Thursday, respectively.
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Although GBP/USD has reached oversold areas, it was staple for several sessions around its six-month low by testing the 1.2480 support level before settling around 1.2510 at the time of writing.
The latest selling of the yellow metal pushed the price of gold towards 1390 dollars an ounce in morning trades on Tuesday.
For three straight trading sessions, the USD/JPY pair is in upward correction pushing it to the resistance level at 108.89 at the time of writing, which is the highest in a month.
USDCHF Analysis: Bulls push price up to long-term resistance area
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The Euro initially tried to rally during the day on Monday, but then broke down towards the 1.2 level underneath.
The Australian dollar initially tried to rally during the trading session on Monday as traders came back to work, in a bit of an attempt to show “risk on.”
The US dollar initially dropped a bit during the beginning of the week, showing signs of weakness.
The US dollar has gone back and forth against the South African Rand during trading on Monday as we continue to hang about the support level underneath.
Natural gas markets gapped higher to kick off the week on Monday, and even managed to clear the 50 day EMA.
The WTI Crude Oil market rallied initially during the trading session on Monday but as you can see gave back quite a bit of the gains and ended up forming a bit of a shooting star.