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 silver markets initially rally during the trading session on Thursday only to turn around and fall rather drastically.
The West Texas Intermediate Crude Oil market has gone back and forth during the trading session on Thursday, bouncing enough to turn around and form a bit of a hammer.
The bitcoin markets fell a bit during the trading session on Thursday as most traders have been paying attention to Jerome Powell and his speech for the Jackson Hole Symposium.
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Gold markets initially shot higher during the trading session on Thursday as traders anticipated the Jerome Powell speech and whatever reaction the markets may have to it.
For four trading sessions in a row, the EUR/USD currency pair was trying to correct upwards, but its gains did not exceed the 1.1844 resistance,
The pressure returns on the USD in anticipation of Jerome Powell’s important statements today.
In light of the USD weakness, the opportunity was better for gold and silver futures to move towards its highest closing level in a week,
For two trading sessions in a row, the bulls failed to push the USD/JPY through the resistance line at 106.56 and settled instead around the 105.85 support at the time of writing.
The USD/MXN is trading near important support levels and has been able to sustain its rather solid bearish trend which has developed since early August.
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AUD/USD: Bulls have a small edge
Turkey has relative control over the Covid-19 pandemic, but the Turkish Lira continues to reach all-time lows versus the US Dollar, despite intensifying bearish pressures on it.
Brazil continues to record over 40,000 new Covid-19 infections daily, trailing only the US in the total count, which recorded over 6,000,000 cases.
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USD/JPY: Support at 105.87 likely today’s pivotal point
The USD/ZAR has traded within a tight value band the past couple of days after seeing its bearish trend gain impetus early this week.
After demonstrating a sudden selling spike downwards early this week and reestablishing its bearish trend the USD/INR traded with plenty of sideways price action.