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 ability of the USD/BRL to consistently trade near resistance levels since late September has allowed a speculative dance to test downward cycles
The West Texas Intermediate Crude Oil market has pulled back a bit during the trading session on Monday to kick off the week, showing signs of weakness yet again.
Gold markets gapped higher to kick off the trading week, breaking out above the highs of the Friday session, only to turn around and find the bottom of the gap yet again.
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The Pakistani Rupee has seen a wave of increased selling against the USD since the 1st of October.
The past five days of trading within the USD/INR have been a solid reflection of the forex pair’s rather choppy trading cycle the past month.
The Australian dollar gapped lower during the trading session on Monday but then turned around to rally to test the highs of the Friday session.
The British pound continues to rally significantly during the trading session on Monday, as we continue towards the highs again.
GBP/USD: New stairstep support at 1.3008
EUR/USD: Medium-term upwards trend
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With the decline of the US dollar in the last trading session last week, there was an opportunity for the GBP/USD pair to correct upward with gains that reached the 1.3048 resistance, its highest level in a month.
Most of last week’s transactions were positive for the USD/JPY, which moved towards the 106.10 resistance, its highest level in three weeks.
At the end of last week's trading, the EUR/USD, jumped to its highest level in two weeks, when it tested the 1.1830 resistance and closed trading near that level.
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Sign up to get the latest market updates and free signals directly to your inbox.The decline of the US currency was a long-awaited catalyst, and therefore the opportunity was better for the yellow metal to rise.
With new Covid-19 infections on the rise, Brazil continues to face an uphill economic battle, on top of the healthcare crisis.
India became the second country behind the US to surpass 7,000,000 Covid-19 cases, with the US set to breach the 8,000,000 level today.