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 NASDAQ 100 initially fell during the trading session on Thursday, but then turned around to show signs of life again.
The S&P 500 initially fell during the trading session on Thursday but as you can see the market has turned around to show signs of life again.
The silver markets gapped lower to kick off the trading session on Thursday as we may have gotten a little bit ahead of ourselves in the short term,
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The West Texas Intermediate Crude Oil market has pulled back initially during the trading session on Thursday on a stronger US dollar
Gold markets have gapped lower to kick off the trading session on Thursday, but then turned around to somewhat fill the gap.
The British pound has rallied significantly during the trading session on Thursday, reaching towards the 1.32 level after initially falling during the day.
The Mexican peso has lost a little bit of strength during the trading session on Thursday as the US dollar reached towards the 50 day EMA.
The Australian dollar has initially fallen during the trading session on Thursday but looks as if it is ready to continue grinding higher based upon the nice bounce that we have seen
The US dollar initially tried to rally against the Japanese yen during the trading session on Thursday but turned around to fall again as we have seen a lot of volatility in this pair
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The Euro has gone back and forth during the trading session on Thursday as we continue to see a lot of volatility in general.
The recent strong EUR/USD gains stopped around the 1.1965 resistance, and with technical indicators reaching overbought areas, the profit-taking activities were activated, which pushed the pair towards the 1.1830 support at the time of writing.
The strength of the US currency pushed the gold price to retreat towards $1925 an ounce in early trading of Thursday, before stabilizing around the $1945 at the time of writing.
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According to the trading strategy, which has always been recommended, to sell the GBP/USD currency pair from every ascending level, the pair abandoned its highest levels during 2020 trading.
Despite the strength of the US dollar against other major currencies, the bounce gains for the USD/JPY did not exceed the 106.21 level around the time of writing.
The EUR/USD has been displaying a solid bullish trend mid-term, and the price action within the forex pair the past two days demonstrates it can actually produce volatility.