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 Crude Oil market has rallied a bit on Friday but found enough resistance near the $80 level to turn things around and show signs of exhaustion.
My previous signal on 9th November was not triggered, as there was no bullish price reaction when any of the support levels were first reached that day.
The GBP/USD currency pair has gone back and forth during the trading session on Friday, as one would expect, hanging around the 200-Day EMA.
The Euro continues to do very little, although the last couple of days have been greatly influenced by the Thanksgiving holiday in the United States.
The Australian dollar has finished the week in the middle of consolidation, seemingly content with doing very little on Friday.
Bitcoin has done almost nothing during the trading session on Friday yet again, as it is essentially just sitting in the same area that it has been for 2 weeks.
This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
When starting the week, it is a good idea to look at the big picture of what is developing in the market as a whole, and how such developments and affected by macro fundamentals, technical factors, and market sentiment.
The EUR/USD sustained value last week and then experienced strong buying after the U.S Fed’s Meeting Minutes report was issued on Wednesday.
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The GBP/USD provided a whirlwind of gains late last week, as the currency pair responded to data and fiscal rhetoric with an additional bullish run.
Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of November 27th, 2022 here.
The USD/CHF bounced a bit during the trading session on Thursday to show signs of life at the major support barrier.
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The USD/CAD drifted a little bit lower during trading on Thursday and what would have been very quiet trading.
The EUR/USD rallied initially during the trading session on Thursday but gave back quite a bit of the gain if it looks like we are struggling to get above the 1.04 level for anything sustainable.