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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For three trading sessions in a row, the price of the USD/JPY currency pair is subjected to correctional selling after its strong gains recently, reaching the resistance level 111.66, its highest since March 2020.
As with other currencies, the pound is recovering against the dollar after recent strong losses from expectations of an imminent US interest rate hike.
The USD/MXN sustained its lower range yesterday and today is likely to see increased volatility as trading volumes increase.
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XRP/USD has seen a swift selloff in the past couple of days and important mid-term support junctures have proven vulnerable.
After reaching a high of nearly 1.500000 on the 4th of July, ADA/USD has begun to experience slight selling pressure.
DOGE/USD remains within a rather tight range which continues to test the sentiment of speculators, but the cryptocurrency may be signaling more bearishness.
AUD has made a very strong recovery since Friday’s NFP release.
The new support level at 1.1882 looks pivotal.
The British pound rallied a bit during the trading session on Monday to reach towards the 1.35 level.
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The DAX Index fell initially during the trading session on Monday but recovered nicely from the trendline that has been so important for so long.
Bitcoin got absolutely hammered during the trading session after initially trying to rally on Monday, as we have lost over $3000 rather quickly.
The Australian dollar rallied a bit during the trading session on Monday, although it should be noted that the volume may be a bit thin due to the fact that Americans were still celebrating the extended Independence Day holiday weekend.
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Gold markets gapped higher to kick off the trading session on Monday, reaching towards the $1800 level.
The US dollar rallied a bit against the Canadian dollar on Monday, as the 50-day EMA seems to be offering a bit of support.
OPEC+ is currently in the third day of negotiations for the production numbers, as the UAE does not wish to extend cuts as much as some of the other members.