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.
The recent record US inflation numbers have increased market expectations that the US Federal Reserve may surprise everyone by announcing an increase in US interest rates at any time, especially since it has already reduced its purchases of bonds.
The British pound could not withstand pressure for long, so the GBP/USD was subjected to sell-offs that pushed it towards the 1.3352 support level, its lowest of 2021.
The downward trajectory of the EUR/USD price is getting stronger due to long-term bearish pressure factors.
The FTSE 100 initially gapped higher to kick off the trading session on Friday, but then turned around immediately to crash into the lower part of the previous candlestick, forming what is known as a “piercing pattern.”
The CAC 40 Index rallied a bit on Friday, breaking above the tight consolidation range that we have been in all week.
Gold markets initially fell on Friday but found buyers underneath to turn things back around and look very strong.
The Australian dollar has been selling off for several days in a row, but Friday saw a bit of bullish pressure to break back above the 0.73 level.
The West Texas Intermediate Crude Oil market pulled back just a bit on Friday as we continue to build up a little bit of a base at this point.
The US dollar initially pulled back a bit against the Norwegian krone on Friday but found the 200-day EMA to be supportive enough to turn things around and go higher.
Bitcoin initially fell on Friday to break down below the $64,000 level, but we have turned around to form a bit of a hammer.
The NASDAQ 100 rallied significantly on Friday and closed towards the top of the range as it shows a proclivity to continue going higher.
The S&P 500 rallied a bit on Friday, breaking above the highs of the previous session.
The euro went back and forth on Friday to show a bit of hesitation down at the 1.1440 level.
The price has made a bullish recovery from $62,250.
The GBP/USD pair is holding steady even as Brexit risks rise and as traders wait for major economic numbers from the UK.
