The silver markets initially tried to rally during the trading session on Monday but gave back the gains in order to show a less than desirable candlestick.
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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After the recent strength of the US dollar against the rest of the other major currencies, the bears faced a loss of momentum to move the GBP/USD currency pair below the 1.3060 support.
The USD/BRL continues to test important resistance and prove its bullish trend since the last week of July is not a mistake.
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The USD/MXN has continued to trade within its bearish trend as it moves slightly above one-month low watermarks near the 21.85000.
Perspective is a key element when trading.
India has taken a global leadership position in new daily Covid-19 infections, in some cases higher than that of the US and Brazil combined.
South Africa continues to experience a gradual decrease in new daily Covid-19 infections, but the condition is far from positive.
The Australian dollar has initially tried to rally during the trading session on Friday, but the US dollar got a bit of a boost against most currencies, including the Aussie.
The US dollar has rallied a bit during the trading session on Friday, and this put a bit of negativity into the silver markets.
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The British pound initially tried to rally during the trading out on Friday, but then pulled back to reach towards the 1.31 level again.
Brazil continues to struggle with the Covid-19 pandemic, recording over 40,000 new infections daily, and the Secretariat of Economic Policy, part of the Ministério da Economia,
Eurozone governments are poised to rollback support measures for businesses, implemented as a response to the Covid-19 pandemic.
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,
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.