While USD centric strength and higher U.S Treasury yields have garnered power the past month and a half, Silver has found itself in a slump. However, Silver remains within a price range that shows large players are still lurking.
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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EUR/USD Forecast: Bears Hold Control After 1.1150 Bounce
AUD/USD remains under selling pressure following the RBA meeting minutes, with traders now focused on upcoming US inflation data and Federal Reserve commentary.
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Bitcoin remains under pressure near $83,000 as weakening ETF inflows, declining futures open interest and rising US bond yields weigh on demand ahead of US inflation data.
GBP/USD remains under pressure as a stronger US dollar, geopolitical tensions and upcoming US inflation data weigh on the pound.
Amid a backdrop of geopolitical uncertainty, key Australian and U.S. economic data this week could drive the AUD/USD’s next move.
Natural gas prices rebounded after a lower opening on Friday, finding support near the 200-day EMA as traders anticipate stronger seasonal demand.
EUR/USD remains under bearish pressure as French fiscal uncertainty, rising US interest rates, and broader European debt concerns weigh on the euro.
WTI crude oil continues to trade between $90 and $95, with trendline support holding as traders assess potential supply disruptions from a Gulf of Mexico hurricane and ongoing Middle East tensions.
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Copper prices rebounded from the key $6.50 support level on Friday, reinforcing the bullish outlook despite elevated US interest rates.
Silver prices rebounded sharply on Friday after dipping below $60, supported by easing bond yields and potential short covering ahead of the weekend.
Price velocity higher in Gold was achieved with a solid result on Thursday and the higher track came within sight of values that could attract large players who like to jump on momentum as it starts to show force.
Meta description: EUR/USD is holding near 1.1200 after a sharp sell-off, but cautious sentiment, bond yields and dollar demand keep lower levels in play.
USD/CAD climbed above 1.4250 after Canada's employment report showed a surprising loss of 68,300 jobs, strengthening the bullish outlook for the US dollar.
AUD/USD remains under pressure ahead of the RBA meeting minutes and US inflation data, with rising bond yields influencing market sentiment.