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 rallied significantly during the trading session on Wednesday as we continue to look at the 1.20 level underneath as significant support.
We did bounce just a bit from the lows of the day, so it is likely that we will continue to go much higher.
With this lack of momentum, the old adage “sell in May and go away” comes to mind.
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The NASDAQ 100 rallied ever so slightly during the trading session on Wednesday, as we have essentially run out of momentum.
The markets are lacking clear direction right now.
The euro broke down a bit during the trading session on Wednesday as we continue to see a lot of selling pressure just above.
The British pound initially rallied during the trading session on Wednesday, but gave back the gains to turn around and show hesitation again as the 1.42 level continues to offer significant issues for buyers to overcome.
We have turned around to show signs of weakness and ended up forming a bit of a shooting star.
The market will probably find reasons to go back and forth until we get some type of certainty.
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The Bitcoin market rallied a bit during the trading session, but still struggles to get above the $40,000 level.
If the price does not rebound to 1.2250, the technical picture will become more bearish.
The GBP/USD price retreated in early trading as the US dollar firmed ahead of the latest US GDP and inflation numbers.
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Ethereum has become one of the most popular assets in the market's recent bull run.
Since the beginning of this week's trading the price of the euro currency pair against the dollar has maintained its gains near its highest since the beginning of this year’s trading in 2021.