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.
Forex Daily Forecast, Analysis and Prediction
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Forex Daily Forecast, Analysis and Prediction
During yesterday's trading session, the price of the euro currency pair against the US dollar, EUR/USD, was exposed to limited selling operations that pushed it towards the 1.1175 level.
During the middle of this week's trading, the GBP/USD witnessed strong selling operations that pushed it toward the support level of 1.2867.
Since the start of trading this week, the price of the USD/JPY currency pair has been trying to compensate for losses due to the weakness of the expectations of the US interest rate hike.
Gold futures settled at their highest levels in about six weeks, driven by expectations that the US Federal Reserve is close to ending the cycle of quantitative tightening.
The GBP/USD is trading around the 1.29125 ratio as of this writing.
As of this writing the USD/TRY is trading near the 26.92750 ratio and readers are urged to look at the live price of the currency pair to gauge market conditions.
My previous signal last Monday produced a small winning trade from the bullish rejection of the support level which I identified at $0.6794.
The GBP/USD exchange rate retreated after the relatively weak inflation data from the UK and housing numbers from the US.
The EUR/USD was flat on Thursday as traders reacted to the latest American housing and European consumer inflation numbers.
The BTC/USD price continued consolidating around the 30,000 support level as demand for Bitcoin retreated.
Crude oil markets experienced a slight rally during the early hours of Wednesday's trading session, as the effects of OPEC production cuts continue to reverberate through the industry.
The US dollar showcased its strength in the trading session on Wednesday, rallying significantly and reaching the crucial 50-Day EMA level.
During Wednesday's trading session, the S&P 500 exhibited limited movement as market participants awaited major earnings calls from a range of prominent companies
Gold markets experienced a slight pullback during Wednesday's trading session, as the market took a breather after a period of bullish pressure.
During Wednesday's trading session, natural gas markets experienced a slight pullback, hovering around the 50-Day Exponential Moving Average.