Instinct is an important aspect of forex trading and the USD/INR from a technical perspective may lead some speculators to believe the Indian Rupee will continue to display further weakness because of its trend.
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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Mexican gross fixed investment plunged a record 28.9% in April over March, in seasonally adjusted terms.
Singapore secured three of the Top Five private equity and venture capital deals across South-East Asia in the first quarter of 2020.
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Silver markets went back and forth during the trading session on Friday, showing signs of exhaustion but have broken above the $19 level, which is an area that has been difficult to deal with for some time.
The British pound had an interesting trading session, initially dropping during the day on Friday, and even piercing below the 200 day EMA.
The US Dollar went back and forth during the trading session on Friday, initially breaking to the upside towards the 97 level before pulling back again.
The Australian dollar has gone back and forth during the trading session on Friday, forming a bit of a neutral candlestick.
Russia is forecast to contract by 6.0% in 2020 due to the Covid-19 pandemic, the worst decline since 2009.
Norway’s economy recovered in May as the government eased lockdown restrictions, following two months of steep declines.
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The Australian dollar initially tried to rally during the trading session on Thursday but as you can see the 0.70 level has caused a bit of trouble yet again
The US Dollar Index has fallen initially during the trading session on Thursday but continues to find support at the critical 96 handle.
The British pound rallied initially during the trading session on Thursday but gave back quite a bit of the gains in order to form a bit of a shooting star.
The silver markets have struggled a bit during the trading session on Thursday, initially shooting towards the $19.50 level before pulling back.
The GBP/USD gains that pushed it towards the 1.2636 resistance level may be temporary, as the British pound rose to a multi-week high against the US dollar.
The British pound has now broken above the 200 day EMA, which of course is a very bullish sign.