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.
The risk appetite and the positive US job numbers were a catalyst for the USD/JPY in correcting upwards to the 109.85 resistance, the highest level of for the pair in more than two months, before it closed last week’s trading around the 109.58 level.
The weakening of the US dollar and risk appetite contribute to stronger gains for the GBP/USD pair, pushing it to the 1.2730 resistance.
Throughout the week's trading, the price of gold was in a downward correction range amid continuing gains in global stock markets and growing investor confidence that the reopening of global economies may offset some of the catastrophic shocks caused by the Coronavirus.
The EUR/USD price fell from the 1.1383 resistance, its highest level in three months, and closed the week's trading around the 1.1278 level.
The S&P 500 broke above the 3100 level during the trading session on Thursday, and now it looks as if the market is trying to break above the 3200 level.
The NASDAQ 100 has rallied significantly during the training session on Friday after the job numbers came out much stronger than anticipated.
The West Texas Intermediate Crude Oil market rallied significantly during the trading session on Friday again as the job numbers came out stronger than anticipated.
The Australian dollar rallied again during the trading session on Friday as the “risk on trade” continues to dominate.
The British pound has rallied significantly during the trading session on Friday, breaking above the crucial 1.2650 level and the 200 day EMA.
The Euro initially rallied during trading on Friday, waiting for the jobs numbers to come out the United States.
India announced an extension of the nationwide lockdown until July, as new Covid-19 infections are spiking.
Silver markets have fallen during the trading session on Friday as the US jobs number was much better than anticipated.
Bitcoin markets pulled back slightly during the trading session on Friday, as the jobs number came out in force a lot of currencies higher against the greenback.
