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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With seemingly no more than a push of a few buttons, the DAX Index has made swift gains the past week and is challenging high water marks.
The USD/BRL has quickly re-established its long-term range as risk appetite delivered a strong dose of bearish momentum for the forex pair yesterday.
The AUD/JPY saw an abrupt spike higher yesterday in early forex action as financial houses responded to US election clarity and became optimistic.
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While South Africa has not witnessed the second COVID-19 wave of infections, the lack of adequate testing could be partially responsible for the lack of official detection.
Mexico continues to struggle with the COVID-19 pandemic, where a lack of testing shows Latin America’s second-largest economy sliding down the ranks of most-infected countries.
Bearish sentiment appears to be the majority feeling within the USD/INR, but as speculators know, ‘feelings’ do not guarantee profits when placing positions.
The West Texas Intermediate Crude Oil market rallied significantly during the trading session on Monday, as Pfizer announced a coronavirus vaccine with over 90% efficacy.
The US dollar exploded to the upside during the trading session on Monday, reaching above the ¥105 level, as it was announced that Pfizer is close to releasing a coronavirus vaccine with over 90% efficacy.
The Australian dollar initially tried to rally during the trading session on Monday, but gave back a substantial amount of the gains to show signs of hesitation in this area.
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The S&P 500 E-mini contract initially gapped higher to kick off the trading session on Monday, and then went into hyperdrive after Pfizer announced its coronavirus vaccine with over 90% efficacy.
The NASDAQ 100 initially spiked during the trading session on Monday, but after Pfizer announced that they had a coronavirus vaccine with over 90% efficacy, traders began dumping some of the biggest “work from home” stocks.
Gold markets were crushed during the trading session on Monday following the news that Pfizer is close to having a coronavirus vaccine with over 90% efficacy.
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Silver markets were hammered by Pfizer during the trading session on Monday, breaking through the 50-day EMA from far above.
Bitcoin has been all over the place during the trading session on Monday, as the markets try to come to terms with various issues at once.
The British pound continues to fluctuate overall, and the 1.32 level continues to cause major issues.