This week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
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
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.
The NZD/USD has seen more momentum to the upside during the trading session on Thursday, clearing the 200-Day EMA.
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.
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The GBP/USD has continued to show signs of strength on Thursday, as we continue to see the US dollar lose strength.
The WTI Crude Oil market has done very little during thin Thanksgiving trading on Thursday.
The S&P 500 E-mini contract advanced above the 4000 level to reach the 200-Day EMA, and now looks as if it is trying to build up enough momentum to break out.
The NASDAQ 100 has rallied a bit in the futures market on Thursday, in what would have been very thin and limited trading.
Gold markets rallied a bit during the trading session on Thursday, but you need to keep in mind that it was Thanksgiving.
The BTC/USD has initially tried to rally on Thursday but gave back what little gain it had in lackluster trading.