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.
The US dollar’s strength and the rush to it as a safe haven with the return of investors’ fears from increasing pressure on the global economy from the start of second wave of the Coronavirus outbreak, contributed to new downward pressure on the GBP/USD and the 1.2343 support and closed last week's trading at that level.
The British pound has fallen down to the 1.2350 level during the trading session on Friday, as the Bank of England has shown itself to be extraordinarily loose with monetary policy and likely to get even worse.
The Australian dollar initially rallied during the trading session on Friday but gave back significant gains in order to form a bit of a shooting star.
Brazil and the US are leading the total global Covid-19 count, as well as new daily infections.
Global Covid-19 infections are surging to new daily records, led by the US.
India and China are attempting to defuse the border conflict at Galwan River valley peacefully after a brawl left dozens of troops dead.
Australia is heading towards an economic collapse unless the government maintains its present support.
The value range of the USD/ZAR continues to deliver a known trading range which speculators may find opportunistic and worthy of taking positions.
Safety means a lot to traders particularly as the weekend approaches.
Silver markets have rallied a bit during the trading session on Thursday as we continue to see strength in precious metals markets overall.
The USD/PKR does not trade in a vacuum, but recent trading of the Pakistani Rupee suggests that its trend is not correlated to many forex pairs.
After putting in a day of solid gains mid-week, the Mexican Peso lost some value yesterday as the USD/MXN was bought.
Yesterday’s initial jobless claims out of the US pointed towards a significantly weaker recovery trend than the May NFP report suggested.
Argentina is on track to record its third consecutive year of GDP contraction in 2020.
The past five days of trading within the USD/ZAR has produced a price range of 16.9000 to 17.5000.
