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 West Texas Intermediate Crude Oil market fell again during the trading session on Monday, but it should be noted that it was Labor Day in the United States and therefore you can only read so much into the price action.
The Bitcoin market fell rather hard during the trading session on Monday as traders came back from the weekend, but you should keep in mind that it was also Labor Day in the United States, so a significant portion of the trading community simply was not there.
The S&P 500 fell initially during the trading session on Monday in thin electronic trading as it was the Labor Day holiday in the United States.
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GBP/USD: Fear of no-deal Brexit again
EUR/USD: New lower resistance printed at 1.1828
The EUR/USD pair did not enjoy last week’s gains, which reached its highest level in two years when it tested the 1.2010 resistance.
In the last three trading sessions last week, gold prices retreated to $1916 an ounce, after a strong attempt by the bulls to push the price towards the level of $2000 psychological resistance at the beginning of the week's trading.
The USD recovered and the selling operations that affected the GBP/USD currency pair, after testing its highest levels in 2020, pushed it towards the 1.3175 support at the end of last week’s trading before stabilizing at the beginning of this week’s trading around the 1.3260 level at the time of writing.
Throughout last week’s trading, the USD/JPY was in a limited upward correction range despite the US currency’s strength against the rest of the other major currencies.
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In early trading this morning the EUR/MXN has seen some bullish behavior flourish within the forex pair.
The USD/SGD continues to trade near important short term resistance.
The EUR/JPY bullish trend has remained strong long term and in early September the forex pair tested the 127.000 briefly before reversing lower.
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Total Covid-19 cases in Switzerland crossed above 44,400 in the Alpine financial center with a population shy of 8,700,000, while the death toll climbed above 2,000.
India faces an acceleration in new daily Covid-19 infections, breaching the 90,000 level, overtaking Brazil as the second-most infected country globally, while remaining number four in the total death count.
The silver markets have initially rallied during the trading session on Friday but gave back the gains in order to form a less than impressive candlestick.