USD/ZAR: Stubborn Higher Price Range and Speculative Element
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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USD/INR: Sustained Higher Realm Glares after Testing Support
At the end of last week's trading, the price of XAU/USD gold declined to trade at a new weekly low at about $1,638 an ounce.
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The Euro remained one of the top performing major currencies last week even after the European Central Bank's October decision prompted the market
The GBP/USD exchange rate remained high near its highest levels in the week after the US Federal Reserve's preferred inflation measure dampened expectations
The core measure of US inflation accelerated in September, while consumer spending remained resilient, indicating broad price pressures and strong demand
The Dow Jones Industrial Average continues to rise, as the DOW JONES INDUSTRIAL index rose during its recent trading at the intraday levels.
Spot natural gas contracts (CFDS ON NATURAL GAS) continue in the early trading on Monday, rising since last week, and recording new daily profits until the moment of writing this report.
The USD/TRY hit a new high, with the Turkish Central Bank's decision to lend to companies with large foreign financial assets approaching to enter into force tomorrow.
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The USD/MXN has again moved towards lower support, and speculators have another opportunity to wager on the trading range which seemingly endures.
The West Texas Intermediate Crude Oil market did very little during the trading session on Friday, as we have seen a bit of non-volatile trading for a couple of days in a row.
The USD/JPY has rallied quite significantly during the trading session on Friday, showing signs of strength again.
The USD/BRL has gone back and forth during the trading session on Friday as we continue to see a lot of consolidation in this pair.
The AUD/USD has fallen during the trading session on Friday, as we are now threatening to fall below 0.64 level.
The GBP/JPY has broken above the ¥170 level rather significantly during the trading session on Friday, and even broke above the ¥171 level.