Despite the gains in the global stock markets after the recent measures by the global central banks to ease monetary policies, the price of gold maintained its recent gains near its highest level in seven years.
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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For the second straight day, the GBP/USD pair is trying to compensate for the losses that pushed it towards the 1.2726 support, its lowest level in more than four months.
AUD/USD: Increasingly likely that the price put in a medium-term bottom
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After eight consecutive trading sessions in which the EUR/USD pair succeeded to achieve upward correction, based on which, the general trend turned upward by moving towards the 1.1213 resistance.
USD/JPY: Pivotal Point at 107.53
The US dollar has rallied slightly during the trading session on Wednesday as we may have gotten a little bit oversold.
The Euro initially tried to rally during the trading session on Wednesday but found support at the 200 day EMA just as it did during the previous session.
The British pound has initially pulled back during the trading session on Wednesday, but then turned around to rally significantly to show signs of life again.
The West Texas Intermediate Crude Oil market has initially tried to rally during the trading session on Wednesday but failed to keep gains above the $47.50 level.
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Natural gas markets have gone back and forth during the trading session on Wednesday but have struggled a bit above the $1.85 handle.
The Bitcoin market did very little during trading on Wednesday, as markets continue to consolidate after a violent thrashing in both directions from a global standpoint.
Gold markets initially tried to rally after gapping lower on Wednesday, only to see the $1650 level offer resistance yet again in the forward futures contract.
The NASDAQ 100 has rallied again during the trading session on Wednesday to take back the losses from the Tuesday session.
The S&P 500 has rallied significantly during the trading session on Wednesday again, breaking above the 3100 level.
The Australian dollar has rallied significantly during the trading session on Wednesday, reaching towards the 0.6650 level.