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
The GBP/USD experienced a decline during the early hours of Thursday, displaying signs of hesitation as it continues to consolidate.
Silver experienced another decline during Thursday's trading session, reflecting ongoing concerns about global economic growth.
The natural gas market witnessed a substantial rally during Thursday's trading session, propelling prices above the 50-Day EMA.
Over the last couple of days, I have been talking about the 13,750 level as a potential target for the NASDAQ 100, and we have in fact touched that area.
The EUR/USD experienced a slight decline during Thursday's trading session as the US dollar continued to recover.
The AUD/USD experienced a slight decline during Thursday's trading session but found support around the 0.6620 level, which has proven significant in recent days.
Since the start of trading this week and the price of the currency pair the US dollar against the Japanese yen is on the path of rebounding upwards with gains reaching the resistance level of 137.70 which is stable around it at the time of writing the analysis.
With US dollar and Treasury yields rising, the gold price was one of the main victims, falling below the $2000/oz area.
The GBP/USD exchange rate corrected the reversal situation in mid-week trading after falling through a set of technical support levels on the charts but a growing set of risks and uncertainties looms and could lead to new losses in the coming days or weeks.
The strong downward pressure on the price performance of the EUR/USD currency pair continues with losses past the 1.0810 support level before settling around the 1.0840 level at the beginning of Thursday's trading.
The TRY/USD continued its losses, as the Turkish currency recorded consecutive losses over the course of this month.
Economic data from the U.K. has not been fantastic.
The USD/TRY has picked up price velocity this week, the currency pair is now traversing near the 19.77800 ratio with rather quick trading action being demonstrated.
My signal last Tuesday was not triggered as none of the key levels I had identified were reached that day.
The GBP/USD rate was unchanged after the Bank of England (BoE) pointed to more interest rate hikes in the coming months.