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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Gold markets initially tried to rally during the trading session on Wednesday but gave back the gains.
Silver markets did very little during the trading session on Wednesday, as one would expect the day before Thanksgiving in the United States.
The US dollar initially tried to rally during the trading session on Wednesday, but found enough resistance at the 50-day EMA to pull back.
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The US dollar fluctuated during the trading session on Wednesday against the Japanese yen, but as we head towards the Thanksgiving holiday, traders are starting to drift away from their trading screens.
The Australian dollar initially fell during the trading session on Wednesday but found support underneath the 0.7350 level.
The Dow Jones 30 broke the important psychological level of 30,000 yesterday for the first time and, in early trading today via US future markets, there are indications another wave of positive momentum may be seen.
Amidst the large amount of global risk sentiment pervading the international financial markets, and as highs are being seen on many equity indices, the USD/BRL remains tangled within a price range that has shown little determination to trade outside of known values.
The USD/ZAR has enjoyed a solid bearish trend and, in early trading today, the Forex pair is hovering near an important support level.
The USD/PKR has enjoyed a solid bearish trend, but after hitting key support levels last week, the Forex pair did reverse higher.
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While new daily COVID-19 infections soar around the world during the second wave of the pandemic, optimism increases over an economic recovery.
Germany is on course to become the twelfth country to surpass 1,000,000 confirmed COVID-19 infections.
The Australian dollar fluctuated against the US dollar, although the pair continued its general bullish trend.
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USD/GBP is in an ascending triangle.
After a bearish start, the EUR/USD pair returned to rebound higher and succeeded in testing the 1.1910 resistance before settling around 1.1890 at the time of writing.
Recent GBP/USD bounce gains were capped by the move up towards the 1.3398 resistance near its three-month high before settling around 1.3345 at the time of writing.