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.
Forex Technical Analysis
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Forex Technical Analysis
Despite the US Dollar's gains after the high US inflation figures and the FOMC minutes, the EUR/USD couldn't get past the 1.1601 level on Thursday.
The USD/ZAR has moved lower again in early trading, extending a reversal lower which has seemingly gained momentum and created volatile conditions.
Gold jumped in late trading on Wednesday and its sudden rocket climb will get the attention of speculators who may have bullish sentiment.
USD/JPY Forex Signal: Still Bullish
The price has room to rise much higher.
The euro rallied significantly on Wednesday to wipe out the losses from a couple of previous sessions.
The West Texas Intermediate Crude Oil market rallied a bit on Wednesday after initially pulling back.
The US dollar fell again on Wednesday as the CPI numbers came out in line with expectations.
The FTSE 100 initially pulled back on Wednesday, only to turn around and show signs of strength.
The DAX rallied on Wednesday to show signs of life again.
Bitcoin markets followed a sideways pattern over the last couple of days after forming a very parabolic move.
Gold markets rallied significantly on Wednesday as we have broken through several resistance barriers in one fell swoop.
Today’s pivotal point is likely to be 1.1609.
The NASDAQ 100 rallied significantly on Wednesday to reach towards the 14,750 level, which is a bullish sign.
The S&P 500 initially fell on Wednesday but then turned around to show signs of life again.
The British pound rallied a bit on Wednesday, but has not made any real headwind one way or the other.