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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Get the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of October 15th, 2023 here.
The difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week and in which direction, and not on the exact methods you might use to determine trade entries and exits.
This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
The S&P 500 experienced a tumultuous trading session on Thursday, initially attempting to rally but later retracting gains in response to the release of hotter-than-anticipated Consumer Price Index (CPI) figures.
The gold market experienced a rollercoaster ride during Thursday's trading session, reflecting the unpredictability caused by a surprising surge in the Consumer Price Index (CPI).
The crude oil market demonstrated resilience during Thursday's session, rebounding after filling the gap from earlier in the week.
The GBP/USD encountered a setback during Thursday's trading session as the Consumer Price Index (CPI) figures exceeded expectations.
The AUD/USD embarked on a brief rally during Thursday's trading session, only to encounter substantial resistance.
The USD/JPY exhibited a modest rally during Thursday's trading session, signaling a continued "buy on the dips" sentiment that has prevailed in the market.
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Silver saw an early rally during Thursday's trading session, although it encountered resistance as it approached the crucial $22.50 mark.
The natural gas market experienced a mild retracement during Thursday's trading session, as it approached the 200-Day Exponential Moving Average.
In Thursday's trading session, the euro experienced a significant decline in response to higher-than-anticipated CPI numbers.
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The upward path is still the most prominent for the performance of the price of the USD/JPY, as the currency pair stabilizes around the resistance level of 149.25.
According to trading, the price of gold (XAU/USD) rose towards the resistance level of $1877, its highest level in two weeks.