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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A quiet and indecisive Forex market.
Support above major round number at 1.2000.
The euro fluctuated during the trading session on Wednesday as we see the 50-day EMA now acting as a bit of a magnet.
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The British pound rallied slightly during the trading session to reach towards 1.40 level before pulling back a bit and then bouncing again.
Gold markets have gotten hammered again during the trading session on Wednesday to reach down towards the $1700 level.
The Australian dollar pulled back just a bit during the trading session on Wednesday, showing a bit of hesitation after the bounce from the last couple of days.
The Bitcoin markets rallied significantly during the trading session on Wednesday to break above the $50,000 level.
The GBP/USD price came under pressure in the overnight session after the weak ADP employment numbers and Rishi Sunak’s budget speech.
The BTC/USD is hovering around the 50,000 mark as investors wait for the next big move.
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USDT/USD has bounced slightly higher in early trading today after testing a key short-term support level.
The past few days of trading in ETH/USD have seen the digital currency climb from important support back to optimistic speculation.
DOGE/USD is suddenly trading within a tight consolidated range where a tenth of a cent looks like support and resistance.
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The strength of the US dollar continues to put pressure on gold, which fell at the beginning of yesterday's trading to the $1707 support level, before settling around $1738 as of this writing.
The British pound's performance may be subject to strong and violent movements after an announcement later by the British Ministry of Finance.
The USD/JPY is still moving in an upward channel, having broken through the 106.00 resistance level to reach the 106.96 resistance level before settling around 106.65 as of this writing.