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.
Ahead of the release of important inflation figures from the Eurozone, the price of the EUR/USD has been moving in a limited range since the beginning of this week between 1.0991 tested yesterday and 1.1046, as the euro lacks the momentum and incentives to achieve further gains as expectations continue that the Eurozone economy will continue to suffer as global trade wars continue.
Overall bearishness remains across the cryptocurrency sector with Bitcoin leading the drift lower.
Singapore has avoided a technical recession as the preliminary third-quarter GDP expanded, but annualized growth barely avoided a standstill.
Optimism about a Brexit deal by the end of this week’s EU summit, which will start tomorrow and conclude on Friday, have pushed the British Pound to a multi-month high.
Optimism about a real US-China trade deal is fading quickly, especially after the US House of Representatives passed the “Hong Kong Human Rights And Democracy Act” which supports anti-government protesters.
USDJPY: Pivotal area from 108.60 to 109.00
USDCAD: Today’s pivotal point likely to be 1.3177
USDCHF Analysis: Trendless ranging price action
GBPUSD: Very bullish but volatile on Brexit deal rumours
The West Texas Intermediate Crude Oil market has fallen again during the trading session on Tuesday, but then turned around to show signs of support just below the $53 level.
The US dollar has initially pulled back a bit during the trading session on Tuesday, reaching towards the bottom part of the hammer from the previous session before rallying again.
