The US Dollar has bounced back firmly since Tokyo opened today, after making a low at 103.67.
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 USD/TRY pair maintained its limited movements, stabilizing within a descending triangle pattern on the four-hour time frame, as shown in the chart.
The EUR/USD currency pair has risen to a resistance level of 1.0895, the highest level in nearly two months, as expectations of a convergence in monetary policy between the US and Europe grow.
For the second consecutive day, the USD/JPY currency pair is trading under selling pressure, pushing it towards the support level of 153.59 this morning.
Amidst a weakening US dollar, the GBP/USD currency pair surged to a resistance level of 1.2700 this morning, Thursday.
Gold prices surged near the key psychological resistance of $2,400 per ounce (oz) today, trading at their highest level in nearly a month.
Asian session sees selloff after bullish move.
The British pound has rallied significantly in the early hours on Wednesday, but now is facing a major resistance barrier against the greenback.
Tuesday’s trading in the USD/PKR produced a low around the 277.9000 ratio briefly.
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You can see that we initially pulled back just a bit during the early hours on Wednesday in the British pound against the Swiss franc pair but have also turned around to show signs of life.
The USD/ILS has traded lower and is touching values last seen in early April.
The S&P 500 rallied rather significantly during the course of the session on Wednesday, as we are now threatening to break an all-time high.
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The NASDAQ 100 rallied on Wednesday again, as momentum continues to be a major influence in this market.
The US dollar initially trying to rally a bit during the Wednesday session but has since been repudiated by the Mexican peso.