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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The WTI Crude Oil market fell significantly during the trading session on Friday, but turned around and bounced a bit to show signs of life.
The US dollar has rallied against the Japanese yen on Friday, which of course is significant considering that the jobs market number missed completely
Gold ended the week up by 1% at $1319.91 an ounce, recoding a fourth consecutive weekly gain, as the continued weakness in the dollar bolstered demand for the precious metal.
Check out our trading strategies with our monthly & weekly forecasts of currency pairs worth watching using support & resistance for the week of January 8, 2018.
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Despite the positive US economic data and the strong support from the interest rate hike expectations in the current year
The GBP/USD has been moving in a cautious bullish move over the last 3 sessions in a row, settling between 1.3612
The USD/JPY is considered the best performing among the dollar’s pairs, despite the drop of the dollar against other majors.
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Rising risk-on sentiment helped the EUR/USD to resume strong gains, as the pair moved towards the highest levels in 28 months, reaching towards the resistance at the 136.36 level, the highest level since October 2015.
Gold prices resumed the move towards resistance at $1321 level an ounce, the highest in 3 months, after the gold’s gains stopped around that level on Wednesday
Gold prices ended Thursday’s session up $9.34 an ounce, helped by the weakness in the dollar.
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The S&P 500 rallied significantly during the trading session on Thursday, as we continue to see more volume jump into the US stock markets.
The US dollar rallied significantly against the Japanese yen during the trading session on Friday, as we continue to bounce around ahead of the jobs number today.