Despite the risk appetite that is dampening the GBP/USD’s performance, the pair is moving timidly to the upside, with gains that just affected the 1.3951 resistance level as of this writing.
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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After an upward correction had the USD/JPY pair testing the 109.07 resistance level, it quickly retreated to the 108.55 support level as of this writing.
The upward correction path for the EUR/USD is getting stronger.
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The 0.7816 level remains extremely pivotal.
The euro shot above the uptrend line during the trading session on Wednesday as we awaited the Federal Reserve FOMC statement and press conference.
The crude oil markets rallied rather significantly during the trading session on Wednesday as we continue to look at recovery as driving demand much higher.
The NASDAQ 100 fell slightly during the trading session but then recovered as the Federal Reserve Open Market Committee came and went without much in the way of change.
The S&P 500 fluctuated during the trading session on Wednesday as we are essentially sitting sideways and waiting for the next bit of momentum to enter the market.
The British pound initially pulled back a bit during the trading session on Wednesday, but then turned around as Jerome Powell suggested that the Federal Reserve is nowhere near trying to tighten monetary policy or even slow down bond purchases.
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The EUR/USD is facing long-term resistance below 1.2200.
The FTSE 100 rallied a bit during the trading session on Wednesday but gave back the gains relatively early as it continues to be very choppy.
The DAX Index did very little during the trading session on Wednesday as we continue to hang around the 15,300 level.
Bitcoin markets went back and forth during the trading session on Wednesday as we saw plenty of volatility awaiting the Federal Reserve decision.
Gold markets initially fell during the trading session on Wednesday to reach down towards the 50-day EMA.
The British pound initially tried to rally during the trading session on Thursday, but then pulled back a bit to form a shooting star.