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 French CAC initially pulled back just a bit during the trading session on Tuesday but found buyers yet again.
The US dollar is stable at a very high level against the Japanese yen, so that of course is a very bullish sign.
The US dollar has fallen a bit against the Canadian dollar during the trading session on Tuesday.
The GBP/USD pair retreated on Wednesday morning.
The EUR/USD pair pulled back slightly after the weak US consumer confidence report.
The Australian dollar was flat against the US dollar on Wednesday morning.
As previously noted, the contrast between the hawkish stance of the US Federal Reserve and the Bank of Japan, which has abandoned negative interest rates cautiously, provides strong momentum for the bulls' control over the direction of the USD/JPY currency pair.
The technical view for the British Pound against the US Dollar “GBP/USD” exchange rate has collapsed, with the potential for further weakness in trading this week.
At the start of the short trading week due to holidays, gold prices are still on their strong upward trend, gaining at the start of the week to reach the resistance level of $2182 per ounce.
The “EUR/USD” currency pair is at risk of further losses this week as the technical setup collapses, and that will not happen until Friday when the potentially market-moving US PCE inflation figure is released.
The euro has rallied a bit during the early hours on Monday as the 200 day EMA is offering a significant amount of support.
The US dollar pulled back just a bit during the trading session on Monday, but at this point in time, it looks like we have plenty of support underneath to turn things around into signs of life.
The Aussie dollar rallied quite nicely early during the trading session on Monday as we continue to range-bound trade overall.
On last Tuesday the USD/BRL climbed to a high above the 5.0500 mark briefly, this tested values not seen since late October in 2023.
Silver has shown itself to be rather stable during the early hours on Monday as we continue to see a lot of back and forth.