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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EURUSD: Consolidation above 1.1100
The S&P 500 is ready to rocket higher after the Federal Reserve has its interest rate announcement.
The WTI Crude Oil market has rallied significantly late in the day on Tuesday, breaking above the psychologically important $57.50 level, as well as the 50 day EMA.
Natural gas markets have been trying to rally a bit during the trading session on Tuesday, but it’s only a matter time before the overall trend continues.
The US dollar has been grinding back and forth against the Mexican peso over the last several weeks, and as you can see the 19 pesos level has been a bit of a magnet for the USD/MXN pair.
Looking at the EUR/USD pair, it’s very likely that we will see a lot of action during the trading session on Wednesday, as the statement and rate decision will move these markets quite drastically as it will move the US dollar in general.
The British pound has been very bearish as of late, breaking apart on Monday, and then continuing some of the bearish behavior on Tuesday.
The US dollar/Japanese yen pair is extraordinarily sensitive to the Federal Reserve and of course interest rate announcement, just as any other major pair will be that features the US dollar, but in this case it has a bit of an inverse relationship at times.
The Australian dollar continued to fall over the next couple of hours, as we reached towards the 0.6850 level below, an area that has offered support more than once.
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The NASDAQ 100 is going to be like any other stock index in the United States, simply waiting around for the Federal Reserve interest rate cut and of course the accompanying statement.
Gold markets gapped a bit higher to kick off the trading session on Tuesday, as we await the Federal Reserve interest rate decision.
For five straight trading sessions, the EUR / USD pair is trading within a limited range between 1.1101 support, the lowest in 2 years, and 2.1187 resistance, and is stable around 1.1140 at the time of writing.
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With the beginning of this week’s trading, gold prices are trying to rebound to the top and compensate for its recent losses, reached during Monday's session to the $1428 resistance level, where it is currently setting almost at the beginning of Tuesday’s trading.
The USD/JPY pair's attempts to rebound stopped at the 109.00 resistance level, as the US Federal Reserve began its meeting to determine its monetary policy and will announce tomorrow its latest decision on interest rates and the future of the Bank's policy.