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 S&P 500 initially tried to rally during the trading session on Monday but then sold off drastically, as we see many concerns when it comes to the Senate runoff election in Georgia.
Aussie remains one of the strongest major global currencies.
The West Texas Intermediate crude oil market initially rallied early on Monday to reach towards the $50 level, an area that will attract a lot of attention because it is a large, round, psychologically significant figure.
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The Australian dollar initially tried to rally during the trading session on Monday, but gave back the gains at the highs from the Friday candlestick.
Gold markets have gapped higher to kick off the trading session on Monday and to start off the new year on the right foot.
The euro gapped higher to kick off the year, showing signs of strength, and then took right off to slam into the 1.23 level by midday.
The British pound initially tried to rally during the trading session on Monday, and even broke a bit higher during the day as it peaked above the 1.37 handle.
The EUR/USD pair is holding steady near its two-and-a-half-year high as traders react to the mixed manufacturing PMI data and the upcoming Georgia runoff election.
The current weakness of Bitcoin price is mostly because of profit-taking after the currency rallied by more than 700% from its lowest level in March.
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The long-term bullish trend does not appear to have been significantly impacted by this day’s fall.
In the last hours of 2020 trading, the price of gold received support from investors abandoning the US dollar, which usually has a negative correlation to the yellow metal.
The year 2020 was one of extreme volatility for the GBP/USD pair.
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The global recession caused by COVID-19 saw the bolstering of save-haven currencies, the most prominent of which was the USD.
The currency pair began trading in 2021 with a positive attitude, but is still cautious as the pandemic rages on.
The DAX Index has begun its trading in 2021 with a gap higher followed by a cautious slight trend downwards as traders seemingly await more impetus.