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.
Gold is struggling under the weight of rising global interest rates, with $4,600 acting as key support while rallies are likely to be sold.
WTI crude oil remains rangebound between $85 support and $100 resistance, with geopolitical headlines continuing to drive volatile price swings.
Bulls and bears are fighting for control of Bitcoin, with the price making a weakly bullish consolidation over the past few weeks.
As of trading this morning the USD/ILS is near the 3.12825 with a wide spread being demonstrated, but the currency pair is also maintaining a rather tight trajectory still within the stronger elements of the Israeli Shekel.
The NZD/USD is near the 0.57860 vicinity as of this writing, this as financial institutions clearly remain reactionary as they try to find equilibrium in what remains a stormy broad Forex market.
The GBP/USD exchange rate wavered after the UK published the latest consumer and producer inflation report. It was trading at 1.3365 on Thursday morning, inside a range it has been in the past few days.
The EUR/USD exchange rate pulled back slightly even after Christine Lagarde opened doors for interest rate hikes by the European Central Bank (ECB). It was trading at 1.1560, a few points below this week's high of 1.1630.
The AUD/USD pair continued its downtrend on Thursday as Iran and the United States took different positions on how to end the ongoing war. It dropped to 0.6940, down from this year's high of 0.7180.
The British Pound rallies again on Wednesday, as we continue to see it grind higher against the Japanese yen in a rate differential move.
The 1.3750 level has been broken by the US dollar on Wednesday, as traders continue to pay close attention to the interest rate markets at the moment. Ultimately, we are now looking at the 200 Day EMA for the next clue.
The Euro tried to rally against the Aussie dollar, but it looks like the momentum is starting to run out. With this, we ask whether or not the momentum is able to continue?
Silver gapped higher on Wednesday, as interest rates relaxed a bit, as word got out that the Americans and Iranians were talking.
The gold market rallied on Wednesday, as traders reacted to falling rates in the US. At this point, any hope of rates dropping could bring buyers into the market.
The US dollar rallied somewhat on Wednesday against the Japanese yen, with the 160 level above offering some kind of massive ceiling.
Nvidia remains rangebound but has seen a lot of upward pressure on Wednesday, as the “risk on” behavior of traders has reentered the market.
