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.
King Crypto’s next major move may depend on more than price action alone. As the market consolidates after a strong recovery, Bitcoin’s profitability indicator is approaching a crossover that has coincided with important turning points in its price history.
EUR/USD remains range-bound with a bearish bias as surging crude oil prices, French protests and concerns about European debt weigh on sentiment.
This pair continued to consolidate within a longer-term trading range in early trade on Tuesday as market participants shrugged off last week’s soft domestic employment data and focused on scaled back bets of a Federal Reserve interest rate hike this month.
While buying action has been moderately strong the past couple of days it should be noted that $4,200.00 seems to remain a barrier that has not been able to be attained with any consistent power.
Gold continues to consolidate between $4,000 and $4,200 as fluctuating US Treasury yields influence price action and limit upward momentum.
EUR/USD faces renewed selling pressure after forming a shooting star near 1.1250 resistance, with French debt concerns and favorable US interest rate differentials supporting the bearish outlook.
Silver has bounced from the important $55 support level but continues to trade within a volatile range as US interest rates weigh on momentum.
USD/JPY continues to find support near the 200-day EMA as an ascending triangle develops beneath ¥159 resistance.
While the EUR/USD certainly has provided evidence that lower realms seen in the middle of last week were too low, the ability to confront higher realms and continue climbing is not likely to remain a strong temptation quite yet.
AUD/USD remains under selling pressure after disappointing Australian employment data reduced expectations of another RBA interest rate hike.
GBP/USD has rebounded sharply following dovish Fed commentary, but the broader bearish outlook remains intact as traders await key UK employment and inflation data.
EUR/USD remains vulnerable to selling pressure as rising oil prices, French political unrest and uncertainty over Federal Reserve policy influence market sentiment.
BTC/USD Signal: Bitcoin Eyes Breakout Above $82,875
Short-term pullbacks continue to get bought into as traders are watching this behavior very closely. The $95 level has acted as a nice support level over the last 48 hours, and, for that matter, three days ago was a bit of a magnet for price.
For participants watching names outside the top of the cap table, the week has meant broad pressure. BTC's relative stability is the exception. Wider health would require much stronger participation across the field.
