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.
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The Euro continues to grind higher against the greenback, as the Forex market seems to be focusing more on the idea of European bonds being federalized than anything else.
The US dollar continues to go back and forth, doing almost nothing at the 50 day EMA against the Japanese yen.
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 S&P 500 initially fell during trading on Monday, but as you can see, we ended up seeing a lot of noise but then turned around to see buyers jump in and push this market back up to the upside.
The NASDAQ 100 had pulled back a bit during the trading session on Monday, but as it is so heavily weighted by the favorite stocks on Wall Street,
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