Silver markets initially pulled back a bit during the trading session on Tuesday but then found enough buyers to turn around and break above the $28 level.
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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 has rallied a bit during the trading session on Tuesday, and even made a fresh, new high.
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The US dollar initially fell against the Mexican peso during the trading session on Tuesday, reaching down towards the 22 MXN level.
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The British pound has broken out to the upside during the trading session on Tuesday, clearing the 1.3150 level.
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As investors abandon the USD, the price of the GBP/USD remains in a stable upward correction range above the 1.3100 resistance, awaiting stronger incentives to achieve more gains.
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The past five days of trading within the USD/INR have offered speculators a tight trading range with just enough price action to take advantage of its limited movements.
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Risk appetite has helped the USD/MXN create a rather solid bearish trend since early August.
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The past five days of trading have seen the USD/ZAR halt the bullish trend which emerged in late July.
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The Pakistani Rupee remains near critical resistance levels, but price action suggests an opportunity exists for brave speculators to actually sell this forex pair.
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Norway passed the 10,000 Covid-19 infection mark on Monday, as hundreds of thousands of students returned to school.
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Heng Swee Keat, the Deputy Prime Minister and Finance Minister of Singapore, announced a fresh S$8 billion economic stimuli to combat the ongoing negative impact of the Covid-19 pandemic.
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The British pound has rallied a bit during the trading session on Monday, reaching above the 1.31 level.
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The Australian dollar rallied significantly during the trading session again on Monday, reaching towards the 0.7250 level before pulling back ever so slightly.
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Silver markets have initially gapped higher during the open on Monday to kick off the week, but then pulled back to find support at the bottom of the gap.
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Throughout last week’s trading, the GBP/USD was moving in a limited range between the 1.3005 support and the 1.3142 resistance and closed the week’s trading around 1.3090.
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