Retail traders ignore data suggesting a more lengthy recovery, as evidenced in the acceleration of global risk-on sentiment,
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 recent downward correction moves, the USD/JPY pair is trying to return to the vicinity of the 108.00 resistance to avoid further collapse.
Despite strong gains in global stock markets, amid increasing optimism among investors about the reopening of the global economy.
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A strong start for the pound this week, and the share of the GBP/USD pair pushed it towards the 1.2506 resistance, it’s highest in a month, before settling around the 1.2488 level in the beginning of trading today.
For the sixth consecutive day, the EUR/USD pair has moved in the range of its channel to correct upwards, with gains reaching the 1.1153 resistance, the highest level in two and a half months, before settling around the 1.1135 level at the time of writing.
Turkey produced the most significant first-quarter GDP data compared against the EU, G20, and OECD members, with a 4.5% annualized growth rate.
The Australian dollar broke out during the trading session on Monday, clearing the 0.67 level handily and even tested the 0.68 level.
The British pound exploded to the upside, reaching towards 1.25 handle above, and as a result it is likely that we are going to see a little bit of a pushback
Silver markets have gapped slightly during the open on Monday, only to turn around and fall, and then rally again before giving up even more.
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The US dollar has gone back and forth during the course of the trading session on Monday as we continue to see a lot of push and pull when it comes to emerging market currencies
First-quarter export volume out of New Zealand increased, defying calls for a marginal contraction.
Australian company pre-tax profits for the first-quarter plunged 16.2% in the first quarter, after a 0.6% contraction in the fourth quarter.
Brazil reported a 1.5% decrease in its first-quarter GDP, while the Finance Ministry announced it expects a more significant second-quarter contraction.
The Australian dollar pulled back just a bit during the trading session on Friday to dipped down below the 200 day EMA.
The British pound had a very volatile session during the Friday trading hours as we had broken above the 50 day EMA but gave back the gains.