Gold markets have stalled in thin volume during the trading session on Thursday as Americans celebrated Thanksgiving.
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 AUD/USD pair continued to rise against its US counterpart, albeit at a slow pace, as the pair lost the strong upward momentum.
The DAX Index has been able to crush important resistance and is trading near the important psychological juncture of 13300.00 early this morning.
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The GBP/USD pair is poised to exit the bullish triangle pattern, as it nearly reached a point of fluctuation in a very weak wide range.
More risk appetite amid investors' optimism about coronavirus vaccines contributed to the continuation of the EUR/USD's bullish momentum.
Despite the recent stalemate in trade negotiations between the European Union and Britain, the GBP/USD pair remained steady around recent gains.
Investors are taking risks amid news of developing COVID-19 vaccines and as Trump begins to coordinate a peaceful transition of the US presidency to Biden.
The USD/JPY did not benefit much from investor risk appetite, as gains since the beginning of trading this week did not surpass the 104.76 resistance level and settled around 104.40 at the time of writing.
Bullish price channel fails to hold.
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Despite the second wave of the COVID-19 pandemic pushing new daily infections in the US close to 200,000, the Dow Jones Industrial Average (DJIA) recorded an all-time high above 30,000.
More COVID-19 infections are on the rise in South Africa, as are inflationary pressures.
The USD/MXN has shown the ability to puncture through important psychological support as the 20.00000 level has proven vulnerable.
The AUD/JPY has again seen bullish activity the past few days as the Forex pair knocks on the door of important resistance levels not genuinely traded since September.
The past day of trading for the USD/SGD has not only reconfirmed the bearish trend of the Forex pair, but the momentum has now punctured long-term support ratios.
Bulls are eating into strong resistance below 1.2000.