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.
Not to be outdone by the U.S mid-term elections being held today, South Africa will conduct its municipal elections tomorrow on the 4th of November. Substantial outcomes will be waited upon by the South African public and financial institutions regarding the final vote.
Gold prices have rebounded toward the psychologically important $4,000 level, but the recovery faces resistance as traders assess the outlook for US interest rates and the dollar.
The Australian Dollar has weakened against the US Dollar despite the Reserve Bank of Australia's latest interest rate hike, with AUD/USD slipping below its 50-day moving average.
Bitcoin continues to struggle as selling pressure keeps BTC/USD below its 50-day EMA and Supertrend indicator.
GBP/USD has climbed to its highest level since mid-September, but weakening trend momentum suggests the rally may be losing strength.
EUR/USD Forecast: Rebound Meets Key Resistance at 1.1226
This pair saw increased selling pressure following today’s Reserve Bank of Australia (RBA) widely expected rate hike, suggesting market participants had already factored in the 25-basis point (BPS) hike.
The October 29 attack on Binance, the world’s largest crypto exchange by trading volume, involved approximately $6.3 billion in unauthorized transactions and forced the platform to temporarily suspend withdrawals.
Gold Below $4,000: What Could Bring Buyers Back?
Bitcoin Forecast: $78,677 Resistance Keeps Bears in Control
Silver has suffered a sharp selloff, breaking below the historically significant $50 support level as elevated US real yields continue to pressure precious metals.
GBP/USD has pulled back after failing to sustain gains near 1.3450, with the pair remaining within its broader trading range.
Gold has broken below the psychologically important $4,000 support level, with rising real yields and a stronger US dollar adding to selling pressure.
AUD/USD has recovered from its October low of 0.6895 but remains in consolidation near 0.7030 ahead of the Reserve Bank of Australia's interest rate decision
GBP/USD has recovered from its October low of 1.3137, supported by improving technical momentum and a bullish morning star candlestick pattern.
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