Precious metals continue to consolidate following their burst bubble, while the Australian Dollar and Japanese Yen are the two most interesting major currencies in the Forex market, as dinosaur stocks take their turn to shine.
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 EUR/USD finished Friday’s trading near 1.18141, which was above lows seen earlier in the day near 1.17665, but well below highs produced last Monday near the 1.18750 vicinity.
WTI Crude Oil finished the week’s trading near the 63.490 ratio as the commodity established a center of gravity again and showed the market within polite equilibrium per its trading results.
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Weekly market forecast analyzing S&P 500, forex pairs, DAX, and global indices, highlighting key levels, trends, and trading expectations.
Despite short-term exhaustion, USD/JPY remains in a strong uptrend, with interest rate differentials favoring buyers on pullbacks toward key support zones.
The USD/CHF pair remains stuck below 0.78 as traders await potential Swiss National Bank action, with markets eyeing a breakout or deeper pullback soon.
The S&P 500 fell to test key support at 6800 on Thursday, with traders eyeing a potential bounce as earnings season continues to influence sentiment.
Bitcoin plunged below $70,000 on Thursday amid rising bearish pressure, with on-chain data signaling deeper losses and a potential return to crypto winter.
The Australian dollar weakened Thursday, trading in a tight range between 0.69 and 0.71 as markets assess RBA rate outlook and China’s economic momentum.
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Silver prices plunged Thursday, testing the critical $70 level as volatility surged, with traders eyeing a possible breakdown that could spark a deeper correction.
The British pound fell sharply after the BOE decision, testing the 1.35 support as USD strength and central bank uncertainty cloud near-term direction.
The NZD/USD pair remains range-bound near 0.60, with risk appetite and strong resistance at 0.61 likely to dictate the next move.
Gold remains volatile after testing $5,000, with $4,800 acting as support as traders await a decisive close to confirm the uptrend’s next phase.
EUR/USD trades quietly after the ECB holds rates steady, with traders eyeing a breakout above 1.1850 or a breakdown toward 1.16 as the next move.
The fall from last week’s spike higher seems to have slowed to nothing, as the price consolidates above $1.1775.