Preliminary PMI data out of the UK indicated a steep slowdown, mirrored across Europe, Australia, and the US, due to the global Covid-19 pandemic.
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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 Australian dollar initially pulled back a bit against the US dollar during the trading session on Thursday, but then rocketed towards the 0.64 handle later in the day.
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The Euro initially tried to rally during the trading session on Thursday but gave back quite a bit of the gains as the market reached towards the 1.0850 level.
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The British pound initially tried to rally during the trading session on Thursday but gave back quite a bit of the gains to form a bit of a shooting star.
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The S&P 500 rallied a bit during the trading session on Thursday but gave back the gains in order to form a bit of a shooting star.
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The NASDAQ 100 initially tried to rally during the trading session on Thursday but gave back quite a bit of the gains in order to form a massive shooting star.
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The US dollar has gone back and forth during the trading session on Thursday, as we continue to see a lot of noise around the ¥108 level.
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The silver markets initially tried to rally during the trading session on Thursday but gave back a lot of the gains as we reached the 50 day EMA.
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During the trading session on Thursday, the US dollar dropped below the 75 ruble level during trading, but also found enough support underneath
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The West Texas Intermediate Crude Oil market rallied during the trading session initially on Thursday but did reach towards the $20 level
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Gold markets initially tried to rally during the trading session on Thursday but gave back quite a bit of the gains above the $1750 level.
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After a growing number of countries believe they have either reached the peak of the global Covid-19 pandemic or are very close to it, markets are now digesting news
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USD/JPY Technical Analysis: Performance Stability Foreshadow a Strong Movement Ahead - 23 April 2020
For the seventh consecutive day, the USD/JPY pair stabilizes in a limited movement range that threatens a strong movement coming in one of two directions, and the downward trend remains the closest opportunity to get support from the next move.
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AUD/USD: Support at 0.6327
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USD/JPY: Both currencies moving together
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