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.
For three straight trading sessions, the EUR/USD pair stabilized around its highest level since September 2018, at the 1.1781 resistance, before settling around 1.1730 at the time of writing, ahead of the announcement of the results of the most important event for this week, which is the monetary policy decisions of the US Federal Reserve Bank later today.
Lothar Heinz Wieler, the President of the Robert Koch Institute (RKI), blames negligence for the rise in Covid-19 infections across Germany.
AUD/USD: New 1-year high price made below 0.7200
The Euro has initially tried rallying during the trading session on Tuesday but gave back the gains to test the 1.17 handle.
The S&P 500 initially rallied during the trading session on Tuesday but gave back the gains to reach towards the 3210 level.
USD/JPY: 105.00 area technically very significant
The NASDAQ 100 has initially tried to rally during the trading session on Tuesday but seems as if it is stuck in a channel, at least in the short term.
The Australian dollar had a choppy session on Tuesday, initially trying to rally before breaking down towards the 0.71 handle.
GBP/USD: British Pound slightly stronger than Euro
The Singapore Dollar has consolidated the past day and still lingers near crucial support levels. The 1.37750 mark is remarkably close but has not been challenged.
After producing a reasonable bearish trend since the middle of July, the USD/INR has seen a change in momentum the past week of trading as support levels have become more resolute.
Risk appetite has remained strong for the USD/MXN and the forex pair did break vulnerable short term support levels again yesterday.
An important aspect of successful trading is based on patience.
EUR/USD: Bullish trend remains strong above 1.1685
