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.
The GBP/USD went into this week near the 1.31725 ratio, which is essentially near values seen at the end of October, this as speculative conditions are likely rise in Forex in the coming days.
WTI Crude Oil went into this weekend via futures prices around 59.595 which is very close to where the commodity finished in the previous week.
Stock markets and the US Dollar lost ground last week against a backdrop of increasing market nervousness, and an increasing belief that the Fed will not make a rate cut in December.
A concise weekly look at major markets, covering key levels and trends across forex, commodities, crypto, and indices with potential breakout signals.
The euro climbed slightly on Thursday but remains in a volatile range, with continued downside risk toward 1.14 unless a breakout above 1.17 occurs.
USD/CAD continues to trade choppily near the key 1.40 level, with longer-term technicals and fundamentals hinting at a possible move toward 1.4250.
Silver rallied early Thursday but reversed into a potential double top on fading volume, signaling growing exhaustion risk in an overheated market.
Bitcoin remains under heavy selling pressure near $100K, with weakening momentum and bearish technicals suggesting a potential breakdown toward $80K.
Natural gas remains elevated after a bullish surge tied to cold weather, but shifting forecasts suggest a sharp pullback could offer long-only buying setups.
Tesla plunged nearly 8% on Thursday, filling a gap near $400 as panic selling swept markets, with $400 and $365 now key levels to watch for a reversal.
The Nasdaq 100 plunged unexpectedly on Thursday, testing critical support at 25,000 and the 50-day EMA, but the broader uptrend remains intact.
The US dollar fell sharply against the Swiss franc on Thursday, testing major support at 0.79, where traders eye a potential bounce amid SNB sensitivity.
Gold pushed above $4,200 on Thursday but lost momentum on low volume, hinting at a possible failed breakout as traders assess key support near $4,000.
The US dollar bounced against the Mexican peso on Thursday amid shifting risk sentiment, but the broader downtrend remains intact unless key resistance levels break.
Gold prices surged past $4200 as safe-haven demand and Fed uncertainty drive bullish momentum, though indicators suggest a potential overbought condition is near.
