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.
The US dollar continues to see a lot of noise, as traders have recently tried to push the Federal Reserve into perceived rate cuts coming quickly. This is something the trading community has been wrong about for some side.
The NASDAQ 100 continues to see a lot of noise, but at this point in time, the markets are consistently seeing NYC buying.
The gold market continues to be one that a lot of people will be watching closely. The brutal selloff on Friday caught a lot of people off guard, and now the entire world seems to be watching closely.
The euro did try to rally a little bit during the early hours here on Monday but simply cannot hang onto gains at the moment as the Federal Reserve Chairman nominee has the markets rethinking things.
The US dollar has rallied against the Canadian dollar again during the day on Monday as the widely reported death of the US dollar seems to be premature.
Silver continues to see a lot of noisy behavior as the market initially tried to recover on Monday after plunging right at the open. That being said, we have seen the sellers come back into the silver market and it now is simply hanging around the 50-day EMA.
The cryptocurrency market suffered a brutal selloff over the weekend, as Bitcoin and Ether prices plunged amid cascading liquidations and macro pressures.
The 0.60 level is being tested, and it is a large round psychologically significant figure that mattered quite a bit multiple times in the past. This is an area that we are going to have to pay closer attention to.
The German DAX had a strong session on Monday, gaining over 1%, despite the initial sell off. Once traders got over the idea of the metals sell off being so brutal, it looks like we started to focus on fundamentals again.
The Aussie dollar continues to be strong in general, despite the fact that the US dollar has taken the driver’s seat in general as far as the foreign exchange markets are concerned.
AUD/USD Forex Signal: Hawkish Rate Hike Sends Price to $0.7050 Today’s unanimous rate hike and improving risk sentiment sends the Aussie higher.
Bitcoin has been breaking to new lows and underperforming other risky assets, but the bounce at the 1-year low price may signify the start of a bullish double bottom chart pattern.
The GBP/USD exchange rate dropped sharply as the US Dollar Index (DXY) staged a strong comeback after the recent Federal Reserve news. If dropped to a low of 1.3688, down sharply from the year-to-date high of 1.3876.
The EUR/USD exchange rate pulled back sharply as investors reacted to Donald Trump's decision to nominate Kevin Warsh to become the next Federal Reserve Chairman. It retreated to a low of 1.1850, down from last month's high of 1.2080.
The AUD/USD exchange rate pulled back sharply from a high of 0.7095 on Thursday to the current 0.6965. It will be in the spotlight ahead of the Reserve Bank of Australia (RBA) interest rate decision and US jobs data.
