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 start of trading last week in the GBP/USD produced rather calm trading waters, but on Thursday volatile waves caused choppiness as U.S and U.K data hit speculators.
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.
Get the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of August 13th, 2023 here.
This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
Thursday's trading session witnessed the USD/JPY resolute ascendancy as it surpassed the ¥142.50 level, edging towards ¥143.50 against the Japanese yen.
Silver's recent price fluctuations have highlighted its inherent volatility, evident in Thursday's trading session, which showcased an initial attempt at decline followed by a subsequent recovery of gains.
The Natural Gas market remains firmly entrenched in a bullish trajectory, even though a somewhat negative sentiment emerged during the day's trading.
The gold market has consistently proven to be a challenging terrain, especially amidst the backdrop of heightened volatility.
In the latest trading session, the EUR/USD displayed a modest rally, finding support in a bounce from the 50-Day Exponential Moving Average.
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The S&P 500 displayed a marginal upward movement during Thursday's trading session, finding support near the 50-Day Exponential Moving Average.
The trajectory of crude oil markets encountered a subtle roadblock on Thursday, hinting at a possible onset of market fatigue.
The GBP/USD displayed a swift upward movement in response to the latest Consumer Price Index (CPI) readings from the United States, along with the unemployment claims data.
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The AUD/USD demonstrated a noteworthy surge in the Thursday trading session, propelling it toward the pivotal 0.66 level.
The USD/TRY stabilized, trading near new all-time highs.