The US dollar dropped sharply against the Canadian dollar after disappointing US GDP data, with USD/CAD testing critical 1.37 support amid long-term trend uncertainty.
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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Bitcoin continues consolidating just below $110K, with strong support at $105K–$100K and bullish momentum eyeing a breakout toward $120K.
The euro rebounded sharply above 1.13 after weaker-than-expected US GDP data, but faces strong resistance at 1.14–1.15 amid lingering global recession fears.
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The British pound rallied from 1.34 after disappointing US GDP data, with traders eyeing a breakout above 1.3650 or a deeper pullback if momentum fades.
Natural gas prices steadied near the 50-day EMA on Thursday, as conflicting fundamentals and low seasonal demand suggest a wide, choppy consolidation range.
Gold prices struggle near $3300 amid a stronger dollar and Fed caution, with traders watching $3220 support and upcoming US inflation data for direction.
EUR/USD is under pressure near 1.1280 amid Fed caution and EU-US tariff uncertainty, with key support at 1.1200 and resistance at 1.1400 shaping the next move.
USD/TRY continues its gradual ascent above 39.10 as post-March political volatility fades, with traders eyeing 39.13 resistance and stable institutional demand.
USD/MYR edged higher on Thursday after testing the 4.2000 support zone, with bearish pressure still dominant ahead of U.S. GDP data and broader risk sentiment shifts.
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The USD/CHF pair remains range-bound but bullish, with traders eyeing 0.84 as a breakout target while strong support at 0.82 continues to underpin buying interest.
Silver drifted on Wednesday, holding near $33 as traders eye a breakout above $34, with dips likely to attract buyers amid range-bound, cautious sentiment.
Gold prices drifted lower on Wednesday as traders watch $3,280 support and $3,370 resistance, with the US dollar and bond market volatility in focus.
Bitcoin dipped slightly on Wednesday as traders watched $110K support, with broader bullish momentum intact and upside targets at $112K and $120K.
The US dollar gained ground against the yen on Wednesday, approaching key resistance at 145 with bullish momentum targeting 148 if the 50-day EMA is cleared.
The British pound slipped toward key support at 1.3450 on Wednesday, as dollar strength and prior resistance levels shape short-term GBP/USD direction.