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.
Most Recent
The CAC Index gapped a bit higher to kick off the trading session on Wednesday but gave back those gains to turn around and form a shooting star.
The Bitcoin market rallied just a bit on Wednesday but gave back the gains to drift towards the $41,300 level again.
Gold markets initially rallied on Wednesday but gave back quite a bit of the gains and then started to fall apart from there.
The BTC/USD attempted to rebound in the evening session as investors focused on key macro issues affecting the world economy.
The GBP/USD pair crashed to the lowest level since December as risks of a UK economic stagflation rose.
Despite global concerns, which usually serve as a fertile environment for gold, a strong US dollar pushed gold to the $1728 support level, a 7-month low, before settling around $1740 as of this writing.
The US dollar is continuing to enjoy upward momentum amid expectations of raising US interest rates soon and investors abandoning the Japanese yen until the selection of the new Japanese prime minister.
The energy crisis in Britain has increased fears of an economic slowdown, putting pressure on the Bank of England's monetary policy because inflation may reach record levels.
Selloffs pushed the EUR/USD towards its lowest levels of 2021 as it moved to the 1.1668 support level and settled around the 1.1682 level as of this writing.
Bonuses & Promotions
The GBP/USD has seen a swift selloff take place and the Forex pair is now traversing values not seen since the second week of January 2021.
The USD/ZAR remains within the upper realms of its bullish run, but an apparent short-term inability to climb higher may entice skeptical bearish speculators.
Gold remains near important support in early trading today, but unfortunately for bullish speculators, the lower price levels have proven rather vulnerable short term.
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Sign up to get the latest market updates and free signals directly to your inbox.Silver is languishing near long-term lows, and traders who have a bullish perspective regarding the commodity may need to readjust their goals and timeframes.
The West Texas Intermediate Crude Oil market initially shot higher on Tuesday, only to turn around and show signs of exhaustion.
The DAX fell rather significantly on Tuesday to reach down towards the 15,225 level.