The Singapore Dollar like many currencies lost value to the US Dollar early yesterday as safe-haven trading escalated. However, in the past twelve hours, the USD/SGD has begun to see sellers emerge.
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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In the last two trading sessions of the GBP/USD pair during last week's trading, the pair lost a lot of its gains, as the pair retreated to the 1.2473 support.
The British pound initially tried to rally during the trading session on Friday, breaking above the 200 day EMA.
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For three consecutive trading sessions, the EUR/USD pair is moving in a downward correction range that pushed it towards the 1.1212 support at the end of last week’s trading.
The USD/PKR is testing important resistance near 166.0000 as the currency markets are being pressured by sharp losses on major international stock indices, as the Asia trading session operates and futures markets in the US suggest a day of losses on Wall Street.
An ascending week compensated the losses of the previous week.
The Australian dollar has gone back and forth during trading on Friday, initially showing signs of strength but then fell again.
Singapore is on track to reopen its entire economy by the end of June, but limitations in the number of people permitted will remain in place.
The USD/MXN has traded with flavor the past week and been challenging for even experienced speculators.
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India implemented the most extensive nationwide lockdown in the world but surged to the number four spot in global Covid-19 infection.
The USD/ARS has proven to be a one way road long term as the Argentine Peso faces sustained losses of value.
Fitch Ratings downgraded South Africa’s credit rating farther into junk territory.
Brazil endured another weekend of protests, which are common since the outbreak of the Covid-19 pandemic.
Silver markets have pulled back slightly during the trading session on Friday, reaching down towards the $17.50 level, an area that begins a supportive level down to the $17.25 level, possibly even as low as $17.00 underneath.
The Indonesian Rupiah has accomplished a valid strong trend and seen the USD/IDR be sold consistently since the height of the IDR’s weakness in early April.