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 British pound has been fairly strong during the trading session on Friday as the jobs number in the United States came out as adding just 12,000 jobs last month.
The GBP/USD pair continued its strong downtrend ahead of the upcoming US election and Federal Reserve and Bank of England (BoE) decisions. It retreated to a low of 1.2845, its lowest swing since August 15.
Gold initially rallied during the trading session on Friday as the jobs numbers came out at adding just 12,000 for the previous month in the United States.
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The AUD/USD exchange rate continued its downward trend as investors focused on the upcoming Federal Reserve and Reserve Bank of Australia (RBA) decision and the US general election set on Tuesday.
The EUR/USD pair pulled back as the US dollar index bounced back ahead of the upcoming US general election and the Federal Reserve meeting.
In my daily analysis of the US indices, the NASDAQ 100 is one that I find very interesting, due to the fact that we are sitting at a large, round, psychologically significant figure in the form of 20,000.
In my daily analysis of the yen related pairs, the NZD/JPY pair has caught my attention, due to the fact that we continue to bounce around 2 of the biggest moving averages that traders pay attention to.
at this point in time, I believe that the market is going to continue to see a little bit of negativity, but if we were to turn things around there is a point where I would want to get long again.
During my daily analysis of US indices, I think that we have a situation where the Dow Jones 30 of course is suddenly bullish again, after the jobs number came out as adding just 12,000 jobs for the previous month.
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After getting very close to making a new all-time high a few days ago, Bitcoin made a bearish retracement, but bulls are looking to make a breakout beyond $69,250, with many hoping for a Trump victory to drive prices higher.
In my daily analysis of commodities, it’s worth noting that the West Texas Intermediate Crude Oil market has initially shown a certain amount of strength, only to turn around and fall apart.
Forex weekly analysis highlights key trends and support/resistance for USD/CHF, EUR/USD, AUD/USD, and Gold amid US election volatility.
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Last week saw markets turn their attention to the US elections, which are too close to call, and the Federal Reserve’s policy meeting, which is almost unanimously expected to bring a rate cut of 0.25%.
The EUR/USD finished the week near the 1.08316 ratio, essentially returning to value the currency pair traversed on Wednesday, this as nervous financial institutions wait for the risk events that are coming.
WTI Crude Oil finished below the 70.000 USD per barrel price as the weekend approached, setting up a challenging week ahead for traders as fundamentals and behavioral sentiment are certain to collide.