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 GBP/USD exchange rate remained relatively unchanged this week, as the forex market experienced low volumes due to the Christmas Holiday.
The US dollar consolidates against the Canadian dollar, finding support at 1.42 while resistance at 1.45 caps gains, driven by strong US fundamentals.
During my daily analysis of the commodity markets, the gold market looks somewhat stable, despite the fact that it was Christmas Eve, and of course liquidity might’ve been almost nonexistent.
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The euro continues to weaken, nearing 1.03 support as dollar strength dominates, driven by rising US rates and economic and political instability in Europe.
During my daily analysis of the exotic currency pairs, the USD/ZAR pair is starting to capture my attention again, as the US dollar has rallied quite significantly.
Despite improving risk sentiment, this currency pair cannot turn bullish but is instead making a neutral consolidation pattern over the short term, while trading within a longer-term bearish price channel.
In my daily analysis of commodities, the silver market has shown itself to be depressed, due to the fact that the interest rates in America continue to be very strong.
During my daily analysis of the commodity markets, the West Texas Intermediate Crude Oil market has shown some strength.
During my daily analysis of financial markets, Bitcoin captured my attention due to the fact that we have bounce significantly from the 50 Day EMA, which sits near the $93,000 level, and is rising.
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For three consecutive trading sessions, gold prices have been trying to rebound to recover the losses of the previous week, which extended to the support level of $2,583 per ounce.
In the shortened trading week due to Christmas holidays, the performance of the Euro is likely to remain under pressure against the US Dollar.
In my daily analysis of major currencies, the Australian dollar continues to be one that I think is going to be a miserable market.
During my daily analysis of the commodity markets, the West Texas Intermediate Crude Oil market.
During my daily analysis of the commodity markets, I always pay close attention to what gold is doing, because it can give you an idea of several things at once.
During my daily analysis of major currency pairs, the EUR/USD pair has pulled back just a bit to show signs of hesitation.