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 EUR/USD exchange rate rose to a high of 1.1200 on Friday after Fed’s Jay Powell hinted that the bank would start cutting interest rates in September.
The GBP/USD pair retreated slightly as traders reflected on last week’s dovish statement by Jerome Powell.
The AUD/USD exchange rate has bounced back sharply after falling to a low of 0.6350 earlier this month.
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Bitcoin price retreated slightly in the overnight session as it found a strong resistance point at $64,960.
The stock market in Spain initially took off during the trading session on Monday, but it looks like we are giving back those gains to show signs of hesitation.
U.S. dollar has shown itself to be strong again during the trading session on Monday, at least against the Mexican peso.
The US dollar rallied a bit from the support level during the trading session on Monday as the 83.75 level is considered to be important.
The Canadian dollar has rallied a bit against the Swiss franc during early trading on Monday, and as you can see, we have rallied to reach towards the 0.63 level.
Bitcoin initially tried to rally during the trading session on Monday but gave back gains as we broke above the $65,000 level.
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In my daily analysis of the natural gas markets, the first thing I notice is that this asset is struggling overall, as every time we have rallied over the last couple of weeks, we’ve seen the natural gas markets fall.
During the trading session on Monday, in my daily analysis of the EUR/GBP pair, the first thing that I notice is that this asset has been oversold over the last couple of weeks, after being overbought before that.
The silver market rallied significantly during the early hours on Monday, to break above the $30 level.
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The euro initially tried to rally during the trading session on Monday but gave back early gains to show signs of hesitation again.
The Turkish Lira depreciated against the US Dollar in early week trading, with the dollar recording new gains despite a global dollar decline.
Recently, the GBP/USD currency pair has risen to its highest level in two years, following Powell's call for a reduction in US interest rates.