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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The US dollar initially tried to bounce after gapping lower on Monday but turned around to show signs of exhaustion.
The USD/BRL has managed to trade lower the past few days and closed yesterday’s session near the 3.7472 mark, this as the currency pair has created a rather durable price range.
The USD/SGD has traded in a relatively calm manner in early trading this morning, but this follows a handful of days in which the currency pair has produced sharp reversals, tested highs and remains choppy.
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During my daily analysis of major currency pairs, the AUD/USD pair has come into focus. This of course is a market that I pay close attention to, because it has a major amount of influence coming from Asia, risk appetite, and of course the gold market.
The US Dollar gapped lower against the Mexican peso during the trading session on Monday, but then turned around to show signs of life.
During my daily analysis of the USD/JPY pair, the first thing I notice is that we did recover about half of the losses from the previous session, which of course is a very bullish turn of events.
The New Zealand dollar has had a very nice bounce during the early hours on Monday as it looks like we are trying to hold the 0.5850 level.
Natural gas in the spot market has been just stretching higher and higher over the last several weeks as we continue to see a lot of resistance at $3.15.
During my daily analysis of the gold market, the first thing that I see is that we have had a couple of days’ worth of stabilization, and now it looks like traders are comfortable enough to start getting aggressive.
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The British pound has bounced quite nicely from the 1.26 level on Monday morning as it looks like we are finally getting a little bit of a reprieve here from the oversold conditions.
During my daily analysis of US indices, the S&P 500 has shown itself to be bullish, as buying the middle of the New York session, the market has reached the 5900 level.
The EUR/USD exchange rate bounced back as the recent plunge eased. After falling to a multi-month low of 1.0497 last week, the pair rebounded to a high of 1.0590 ahead of European inflation data.
The US dollar did initially try to recover its losses against the Singapore dollar during the early hours on Monday but found the 1.3450 level to be a little bit too much and it has since plummeted.
Bitcoin price remained above $90,000 this week as hopes of friendly regulations continued.
The GBP/USD exchange was largely unmoved and hovering near its lowest level since July 3rd, down by 5.7% from its highest level this year. Its price action happened ahead of the upcoming UK economic data.