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 Euro initially tried to rally during the trading session on Monday but gave back the gains and crashed towards the 1.17 level.
Get our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of September 21, 2020.
Amidst a new downward momentum for the EUR/USD, the trading session on Thursday was the most declining for the pair, which collapsed to the 1.1737 support, the lowest level in a month before closing the week’s trading around the 1.1841 support.
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The Bank of England has taken another step to prepare for possible negative interest rates.
The sharp selling of the USD/JPY pushed the technical indicators to strong oversold areas, as the pair retreated to the 104.27 support, its lowest level in more than a month and a half.
Early trading this morning in the USD/MXN has seen bullish momentum add onto Friday’s late trend, which developed after critical support at 20.80000 into focus.
Speculators within the USD/ZAR have another opportunity standing in front of them to test trends today.
While the USD/INR has delivered a bearish trend over the mid-term it has not come without a fight.
The Singapore Dollar is testing values that were traded in December of 2019, meaning the USD/SGD is within a price range experienced before global fears of coronavirus cascaded through the markets.
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AUD/USD: 0.7250 area still looks pivotal
Sweden continues to report a steady and low rate of new Covid-19 infections, praising its approach to the initial wave, which faced heavy criticism due to an unacceptably high death toll.
Switzerland witnessed a gradual increase in new Covid-19 infection since mid-June when it started to open its land borders and eased restrictions.
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USD/JPY: Japanese Yen is the strongest major currency
The Australian dollar has gone back and forth during the trading session on Friday, initially trying to pull back before rallying and before pulling back again only to settle on a relatively unchanged candle.
The NASDAQ 100 has fallen during the trading session on Friday, reaching below the 11,000 handle rather significantly.